U.F.O.
This Market's Gonna
Started by
U.F.O.
, Mar 20 2008 07:46 PM
2 replies to this topic
#1
U.F.O.
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U.F.O.
Posted 20 March 2008 - 07:46 PM
It's all about how and where major consolidation occurs. This Triangle we have here at the lows is "big-time" bad. Consolidation at the extremes implies a continuation of the preceeding trend. (2 charts)
U.F.O.
U.F.O.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
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#2
emdee
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Posted 20 March 2008 - 08:11 PM
Hi UFO,
In late July / early August 2006 the same thing could have been said about consolidation at the lows. It didn't turn out that way. Back then it took about a month to build a base.
http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&st=2006-04-01&en=2006-08-31&i=p21273257617&a=133790822&r=2486.png
http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=4&dy=0&i=p30215305016&a=133791030&r=2882.png
In late July / early August 2006 the same thing could have been said about consolidation at the lows. It didn't turn out that way. Back then it took about a month to build a base.
http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&st=2006-04-01&en=2006-08-31&i=p21273257617&a=133790822&r=2486.png
http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=4&dy=0&i=p30215305016&a=133791030&r=2882.png
#3
emdee
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Posted 20 March 2008 - 08:19 PM
Fwiw, next week is EOQ. The powers that be are going to do the best they can to salvage the quarterly reports. Fow many folks that's all they look at. Imo, odds favor higher prices and quite possibly the beginning of a nice run.
Jmo...Mike
