For JP: (continued)
Another view, JP. Forget about charts and intermarket relationships and other stuff. Let's go down to basic psychology, because after all that is what all of this boils down to. The charts show this footprint but we can examine its historic internal structure.
Where is the bottoming phemomena (that is supposed to occur at the bottom of ALL recorded bearmarkets) for the March 2009 alleged bottom?
phenomena such as ..... the throwing in the towel, the total disgust with equities, the capitulation, the walking away from anything to do with the markets AND the pessimism so great that it takes considerable time for it to dissipate ...
heck, within a week after the March 2009 lows, on 2-4 large green bars, so many of the newsletter writers and others were partying already and talking going Long. Their behaviour is proof that that WAS NOT the bottom, just a bottom aka bearrally low.
And if anyone gives the excuse that the bear of 2008 was not a real bear, dig this .... anyone here would have ever dreamed that BofA and Citicorp would be brought to their knees?
No sir, on the basis of PSYSHOLOGY alone, the downdraft is not over, rather its only in respite mode. And PSYCHOLOGY provides us with even more evidence as to why this respite mode is absolutely essential - you see the #bulls at the March 2009 lows was very small - the market has to rope them all in again and when they are all aboard, only then can the next leg down begin.
Such is the magnitude of the PSYCHOLOGY that we are dealing with. The market's goal is to bankrupt the masses. That is does this quite well needs no proof. Just look at ET, a videogame arcade.
Another view, JP. Forget about charts and intermarket relationships and other stuff. Let's go down to basic psychology, because after all that is what all of this boils down to. The charts show this footprint but we can examine its historic internal structure.
Where is the bottoming phemomena (that is supposed to occur at the bottom of ALL recorded bearmarkets) for the March 2009 alleged bottom?
phenomena such as ..... the throwing in the towel, the total disgust with equities, the capitulation, the walking away from anything to do with the markets AND the pessimism so great that it takes considerable time for it to dissipate ...
heck, within a week after the March 2009 lows, on 2-4 large green bars, so many of the newsletter writers and others were partying already and talking going Long. Their behaviour is proof that that WAS NOT the bottom, just a bottom aka bearrally low.
And if anyone gives the excuse that the bear of 2008 was not a real bear, dig this .... anyone here would have ever dreamed that BofA and Citicorp would be brought to their knees?
No sir, on the basis of PSYSHOLOGY alone, the downdraft is not over, rather its only in respite mode. And PSYCHOLOGY provides us with even more evidence as to why this respite mode is absolutely essential - you see the #bulls at the March 2009 lows was very small - the market has to rope them all in again and when they are all aboard, only then can the next leg down begin.
Such is the magnitude of the PSYCHOLOGY that we are dealing with. The market's goal is to bankrupt the masses. That is does this quite well needs no proof. Just look at ET, a videogame arcade.
