Jimmy, take a look at the CA chart a cup pattern just like the DOW that went to marginal new highs (false breakout), reversed hard, then dropped 50%. The Brits have the same pattern.
Notice the gastly double tops on CCI, SCH, YHOO and the DJ 65.
These are big reversal patterns, the kind you don't want your mom to know about.
As I mentioned earlier the HSI a/d line did not confirm the rally in Hong Kong, it actually was headed downhill.
The Asians are gonna get blown over by this Dow weakness.
As PT Burnem noted, this thread was particularly quiet for this kind of drop, in past corrections your would have 30-75 messages to log on to. This is the kind of complacency at the crash, where all the bears have capitulated. the b/b survey went from 41/31 in two weeks to 54/22, dats a drama ROC, massive capitulation. The longs have been fully margined in DELL, MSFT, LU, INTernETS, yadda yadda yadda
watch out below,
bb |
