The market will give you a 2nd chance but rarely a 3rd. Triple bottoms are very rare, after bouncing off of S&P 1400-1410 support area in August and November, we are back again to the support zone. This time, there will be no looking back as support is violated and we head towards new 52 week lows.
Triple bottoms are rare: its game over
- Thread starter detective
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Agreed, I just read a nice market review at
http://www.tradeforgain.com/
and the dude show a chart that's right on the money... we're going down
Excellent analysis. This is pretty rare and the technicals make the argument quite clear....although light volume over the past couple of weeks may have been due to the holidays. Nonetheless, she's going down!
Happy New Year!
Happy New Year!
Everyone's short this weekend. That's pretty rare too.
Quote from lindq:
Well, one man's triple bottom is another man's manage a trois.
And yes, they are unfortunately pretty rare.
I hope am wrong,can be flammed & told to bendover and take it, but its a 50/50 chance, don't mind my stops getting hit and going back on the sidelines, its definetly a bumpy ride for Buy & Hold. Think c.2001 for manic depressive types like me gloom & doom environments help us thrive 
...to be bought into.
I said it before (you can look it up) and I'll say it again: they were looking to start this year with a big drop they could buy into, and that's what has happened. I intend to buy into this with everything I've got in my long term accounts. Market is cheap relative to anything you want to relate it to, and the Fed has to cut early and often, or be seen as a tool of the incumbents.
Ergo, short term, next week is going to feature a huge rally, possibly instigated by a surprise Fed move. I've already positioned myself for it.
I said it before (you can look it up) and I'll say it again: they were looking to start this year with a big drop they could buy into, and that's what has happened. I intend to buy into this with everything I've got in my long term accounts. Market is cheap relative to anything you want to relate it to, and the Fed has to cut early and often, or be seen as a tool of the incumbents.
Ergo, short term, next week is going to feature a huge rally, possibly instigated by a surprise Fed move. I've already positioned myself for it.