This time period had the steepest decline on a daily basis that I can remember. Many technical analysts - dare I say most - thought nearly every day that the steepness of the decline called for a "monster rally higher."
Channels are valid for as long as they hold. Same with trendlines. That's mainly why I don't use them.
Stops are good things. Good trading.
September 19th to October 10th 2008
Started by
unosuke
, Feb 27 2009 09:06 AM
1 reply to this topic
#1
unosuke
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Posted 27 February 2009 - 09:06 AM
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
cgnx
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Posted 27 February 2009 - 09:59 AM
I would beg that the fact we are as oversold on some indicators as we have ever been in history. I saw one chart and never have we been this oversold. That alone should be a warning for bears. The fuse is lit. I hear ticking. W.Y.A.
If it can be cornered, it will.
