Let's assume that stock prices have discounted all bad news (for now) but U.S. companies continue to generate record profits because of global growth; Albeit slow growth in U.S but most of these firms derive a large portion of revenue overseas. This might actually turn out to be a real bottom.
A price chart would be a short time spike above the 200 day MA, rejection by overhead resistance formed by a line connecting the last 2 points and a retest of the 200 day MA which hopefully survive and we might have a potentia situation of a new high in 2011.
Good Luck!
Alternate Scenario
Started by
punter
, Aug 04 2011 08:18 AM
No replies to this topic
#1
Posted 04 August 2011 - 08:18 AM
Keep Calm and be Long
My opinion on markets, or anything, is a health hazard. Follow or fade at your own risk!