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Pastimes : The Philosophical Porch
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To: Crimson Ghost who wrote (5472)3/15/2010 3:09:59 PM
From: Rarebird  Read Replies (1) of 26251
 
The MidCaps are telling me that the stimulus has pushed valuations back to where the market broke down a couple of years ago. The technicals are saying this is just a kissback of the broken long term support line and, once the retesting convinces the market that it's not going back to that long term trend, the next step is a doozy. I'm expecting the S&P to easily break below its March 2009 lows once the next leg down in the secular downtrend commences in late August 2010. I'm looking at possibly 343 on the S&P before the next leg down is complete.

I kid you not. I'm preparing for this now.
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