Triple bottoms are rare: its game over

Discussion in 'Trading' started by detective, Jan 4, 2008.

  1. The market will give you a 2nd chance but rarely a 3rd. Triple bottoms are very rare, after bouncing off of S&P 1400-1410 support area in August and November, we are back again to the support zone. This time, there will be no looking back as support is violated and we head towards new 52 week lows.
  2. 4XIS4U


    Agreed, I just read a nice market review at
    and the dude show a chart that's right on the money... we're going down
  3. Excellent analysis. This is pretty rare and the technicals make the argument quite clear....although light volume over the past couple of weeks may have been due to the holidays. Nonetheless, she's going down!

    Happy New Year!
  4. lindq


    Well, one man's triple bottom is another man's manage a trois.

    And yes, they are unfortunately pretty rare.:cool:
  5. Everyone's short this weekend. That's pretty rare too.

  6. I hope am wrong,can be flammed & told to bendover and take it, but its a 50/50 chance, don't mind my stops getting hit and going back on the sidelines, its definetly a bumpy ride for Buy & Hold. Think c.2001 for manic depressive types like me gloom & doom environments help us thrive :)
  7. Depends on what one means by "bottom". Each low has been higher, and volume is unremarkable. Plus the uptrend has yet to be broken.

    We'll see.

  8. asian markets likely down huge Sunday nite and the chance of it holding 1400 ?????

    a snowball anyone????
  9. be bought into.
    I said it before (you can look it up) and I'll say it again: they were looking to start this year with a big drop they could buy into, and that's what has happened. I intend to buy into this with everything I've got in my long term accounts. Market is cheap relative to anything you want to relate it to, and the Fed has to cut early and often, or be seen as a tool of the incumbents.
    Ergo, short term, next week is going to feature a huge rally, possibly instigated by a surprise Fed move. I've already positioned myself for it.
  10. Trayo


    Wish I had more cash, I'd be all in...
    #10     Jan 4, 2008