September '08, before the crash:
Current events:
The parallels to Sept. '08 pre-crash continue
Started by
unosuke
, Feb 02 2009 05:33 PM
2 replies to this topic
#1
unosuke
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Posted 02 February 2009 - 05:33 PM
Keep in mind that in both instances, the Bollinger Bands already began flaring to the downside after 8 or so weeks of contraction.
September '08, before the crash:
Current events:
September '08, before the crash:
Current events:
Current Positions: Long EEV @ 40.29, Long DUG @ 24.66, Long DXD @ 59.62, Long SDS @ 72.70, Long TWM @ 61.84, Long QID @ 48.21, Long FXP @ 20.43, Long SSG @ 43.76, Short XOM @ 69.31, Short AAPL @ 117.52
#2
kssmibotm
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Posted 02 February 2009 - 07:13 PM
I appreciate the annotated charts. The similarities you point out are unmistakable. but I do not expect a similar outcome. The meltdown last fall was fueled by mutual fund and hedge fund selling to meet mass redemptions from weak longs. The weak longs have not returned to the market, so who is left to sell? Don't get me wrong. I do expect further downside, but not with the intensity that we saw in Oct/Nov.
KMB
People think the Holy Grail is something looked for but never found. In fact, it is something often found but rarely recognized.
#3
atlasshrugged
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Posted 02 February 2009 - 09:26 PM
i think you hit the nail on the head but the difference this time is the naz which is showing some RS...something to watch...but so far no reason the get bullish
