Ibovespa ($BVSP) just bottomed

Discussion in 'Trading' started by aradiel, Jul 3, 2008.

  1. aradiel


    For those who care about the brazilian market, the analyst of the firm I work for just stood up on the trading desk and oficially announced the reversal day today. Im puting on the records here to give the fellow members a chance to follow this prediction over the next days and weeks. I going to post a daily chart when I get the chance, very busy right now.
  2. Yay, the global slowdown is over because of some technical garbage.

    Jump for joy time!
  3. Sounds like your "analyst" likes to piss against the wind.
  4. S2007S


    It didnt bottom, its far from a bottom...

    (Sao Paolo: ^BVSP)
    Index Value: 60,891.42
    Trade Time: 11:23AM ET
    Change: Down 214.80 (0.35%)
    Prev Close: 61,106.22
    Open: 63,467.22
    Day's Range: 60177.18 - 61600.61
    52wk Range: 44,938.00 - 73,920.00

    down about 18.5% from its highs but still up 500% from just 5 years ago.

    This market has plenty of room to fall, I think falling below 50,000 is certainly a possibility over the next 2 months.
  5. aradiel


    We don't think it is over, just that it wont sink in a straight line. Also, no need to be rude.
  6. Knives are sharp..
  7. aradiel


    Well, the wind is not blowing south yet down here.
  8. While that looks like it's approaching the bottom portion of a bullish channel, what's going to stop it from falling -10% right through the channel making it a true bear market?
  9. Nao estamos a dizer que vai cair ou subir. Apenas que e um pouco cedo para vir aqui e declarar que nao baixa mais. Quem sabe?

    Na minha opiniao, e melhor esperar 1-2 dias e ter melhor ideia.

  10. aradiel


    ok obviously not a reversal day, but I am confident we are very close to the bottom and 2 or 3 days from the beggining of a quick 10% surge. Lets see, his tools predicted very precisely all the weekly bottoms of Bovespa for the last 4 years. And you guys are being too harsh on someone you don't even know, I didn't know this board was so much against technical analysis.
    #10     Jul 3, 2008