Gersh, yes I do candles, but they are only a part of the toolkit.
I don't know what you would call the ndx top this week, an evening doji star, hammer, whatever, but i believe the weekly by next weekly will be bearish engulfing.
I believe we could take out the October lows but not on this leg down, that will come into the 9 month cycle low in July.
The herds expectations for earnings and rates are completely WRONG.
The herd thinks oil is going to $5 =gggggggggggg- and all the other economies in the world will stay depressed to give us low commod prices -ggggg-
The herd also thinks we shud retain somebody who sticks there finger in your face and tells a bold face lie in the oval office with his finger on a cruise missile button.
yuuuuuuuuuuuuuuuuuk!
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I wouldn't recommend shorting internet stocks unless you can time the waves perfectly, and dat ain't easy.
short low rsi stocks, unless you want to buy leap putz on amzn
MANIA STOCKS ARE ALMOST ALWAYS FOLLOWED BY MULTI YEAR BEAR MARKETS! In 1982 the personal computer mania was in Wang and a few others, Intel, MSFT and the real winners came after the mania.
Any long term investor in mania stocks shud look at PRST, MRVC, IOM.
thats the long term most likely for amzn, yhoo etc.
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