They say that a picture is worth a thousand words, so here is a picture, lets see how many we can get. I can think of a couple, mostly look out below. I have been saying for some time that we are in a bear market and people have thought I was nuts but the market is certainly trading in a very bearish manner. Keeping in mind that I dont know what I'm going to eat for lunch and that is only 4 hours away, I do suspect that the Nasdaq is in for a lot of downside, I would not be suprised at all if the cubes visit $25/$22.50 sometime in the next year or so. Brandon
you so krazy... we will not go that low - bernenke is slow but not stupid. cyclical bull market, and i'm sticking to it.
"in the next year or so"! Hell, the world could blow up by then! I think Prechter agrees with you however -- of course he's been right only once in the past 20 years, I think--- or did he become bullish before the bubble burst?! bonne chance
Still bullish since the first date of data... long-term uptrend lol.. Draw a trendline under the big lows
Maybe still an uptrend, but simply being in an uptrend, to me, hardly qualifies as a reason to buy something. I have only been profitable for 9 years out of 11 that I have traded, so I am still learning (I'm not saying this faciciously (sp?), I mean it) and I can be wrong just like the next guy. At any rate though, to me that chart looks like an avalanche that wants to slide. In March of 2000 everything was uptrending too and granted if you follow a discipline of getting out when that trend line is broken your protected yourself better than most..but...... Brandon
All true. The most important thing is NOT to be a bull or bear. Once you define yourself during a cycle you open yourself up to big losses and small gains. Why is it when the market is up it's a good day and down a bad day?? That mentality reflects the mind set of the buy and hold investor not the trader. A true trader reacts and makes money whether the market is up or down. Trade well.
5th post down. http://www.elitetrader.com/vb/showthread.php?s=&postid=33316&highlight=migraine#post33316