Ditto.
A large component of a bear market is psychological/time... relentless grinding to the downside and the feeling of despair. Here's what a real bear market looks like.
Today's conventional wisdom(?) of a "bear market = 20% down" is ridiculous.
Bullish at a Time of Extreme Panic (Larry Williams)
- Thread starter Zor_Champ
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Ditto.
A large component of a bear market is psychological/time... relentless grinding to the downside and the feeling of despair. Here's what a real bear market looks like.
Today's conventional wisdom(?) of a "bear market = 20% down" is ridiculous.
Everething should be ignored. Only YOUR trading/investing plan does matter for YOU.
agree
but it has not shown up in the technical.
the fundamentals are the worst I have seen in my life.
but the question is who is going to sell at these levels.
bears do not sell low …...bulls buy low …..and unload as the market falls,but like you say with fundamentals so bad, no bull is going to buy...….
so we are going to enter a 'tight' trading range...………
It isn't about respect, people put too much faith and effort into following market legends. Be honest how much can they seriously help you be a consistent long term day trader? I am not saying they don't have any good advice and if you're just investing only, I won't comment or fight you on that part. But there's also market legends who made their money through inside information, some made it all on one fluke trade (and than couldn't follow up those same results in the future, but lived off both the money and the credibility of the one huge trade) and etc.
I will admit I don't know a lot about this particular guy, so if you think that disqualifies what I am saying fair enough. But you will never convince me in a million years that videos like the one he just posted has anything to do with someone being a consistent long term trader.
EDIT: I am almost begging for him to be right and hope I am wrong, but the probabilities are stacked against what he's saying. I can trade in this market environment well enough intra-day, my concern is literally with the markets staying upon. I am not a doomsayer and things aren't at critical levels yet. NQ around 5300 would make some sense and wouldn't worry me that much. But if we do go there and than beyond that, I start to get a little more concerned.
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We may have bottomed for the short term. Whether we get another leg down will depend on how much worse things get. The virus will be history in a couple of months. Then it will depend on the state of economy and how long things take to get back to normal. Although the stock market will anticipate a recovery ahead of time. This recession could last six months or it could last years. who the fuck knows.
And then there is this... The 1929-1932 bear market and the 2000 Nasdaq bear have different charts from the above but took similar forms.
We could see similar to this again. We might be nearing the initial "swoosh" bottom... to be followed by ~50% retracement of the decline (prolly take at least a few months and convince everyone, "the coast is clear")... to roll over again and do the lonnnng grind down to the ultimate bottom.
Just spit-ballin' here
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