|
Hi Bill,
Oh, I see. <G> Charts are funny things... people can look at the same chart and see totally different things. I'll stick to a fork until it doesn't hold... the great thing about the fork is that the market shows the pivots to use... you just have to use them. <G> I would be more than happy to draw down-forks, but the market has to tip its hand to me first. The longer term down-fork, which you pointed out, holding any further advance would be a good start to make the bearish case. Of course, the bull will eventually die, and of course, it could happen sooner than later. The most apt thing, imo, that could be said to an NT'er (i guess) is that a broken clock tells time twice a day. <G>
I find it funny, that in the end, whatever downturn occurs will probably be exacerbated because there aren't enough bears/shorts out there. It seems most bears have gone broke in the last few years... which makes it all the sadder when the turn they had been betting on finally comes, and they don't have enough powder left to take their shot. With no heavy short positions in the market.... there's no primed buying force ready to create a floor in prices when things really do tank, imo. As always, it will be interesting to see how it plays out... talk to you later, take care
Regards,
Frank |
