Personally, I don't know why you argue either. Human psychology does not change. Market reaction does not change. The only difference in the market of 1935 and the market of 2007 is the speed at which the market operates. Each sequence of bars on a chart tells a story. It tells the same story regardless of the time period. End of story. See ya.
Memo to dentists: I don't need no stinkin' 6 bucks. I want all 25! Which is another way of saying bx will seen at 10 about the time the current credit and risk repricing finishes.
The rapidity of the bx sheep shearing is surprising even to me, and I expected it completely, beforehand and during its opening act, as in this post from last month:
Ouch. Sure hope my endodontist is not in this group who've had hard-earned money destroyed by this pig. What a waste: first-day buyers have been sheared by a third. So, I've got one root canal scheduled already -- don't need him finding more just to repair the hole bx has sliced in his purse. Ouch and ouch again!
Thanks where thanks are due -- to Digs. The starting post of this thread, early last month, prompted me to reconsider my "patience" view of the absolutely assured, highly-profitable short set-ups that would emerge in time, only not very soon. That prompt proved profitable. No missing the bus for me.
The fact that it didn't close at the lows is a sign of more to come...The next two trading days could see the long awaited crash. The Amazing One has spoken