You dont call that a sell off? You think it was a technical error? Com on .... The market is just some people sitting at their computer screens forming an opinion. The last bear market is a great example. What happened is that it hit the exact zone that I gave to you on a gold plate over 3 weeks ago calling for a 5-10% decline. The market was overbought, to many stops below the market... what goes up must come down. Stoney I thought you had learned your lesson once going against me before.... obviously not. Good luck...
One word: ratings. Who's going to watch those clowns in a bear market? Cramer will be gone since most of the dopes who follow his picks will have blown up their accounts already.
<i>"That's right ALL 400 points back By Friday. Impossible?"</i> Yes. Definitely. Much more probable to cough up another -400 by the weekend, instead. Roll up some Durban Poison to settle the nerves a bit, <b>Stoned</b>... were about to see some old school volatility rattling around here for awhile.
statistically there is some backup for your reversal call, but i think V bottoms typically mark an end of a downtrend, not at the top of an uptrend
The problem with your guys thinking is that EXTREME one day blow offs ALWAYS comes at bottoms not tops-- corrections are dribble drain affairs that give investors many chances to F* up and reinvest only to get sucked down again... anyone remember post 2000? So in fact what we were sitting on- little did we know- was not a top it was a trading range and a bottom. We established a puke flush and some are betting we retest. I am on record for a V Bottom. That means don't look at the futures (by 10:30 we will be flat to up by 12:30 we will be up 60 points by 2:30 160 points- and I fear we may sell off in the last hour)
You keep changing your opinion... this that.. yes this is definately looking like a washout move. I am on the short side since 1459 and will stay that way. The V bottom is already negated... you are already wrong. V bottoms dont have a DB retest and drop 18 points.... they are vertical.
If you add an element of symmetry to your comparison, 2000 had a dribble down move after an explosive up move, while this seems like the start of an explosive down move after a dribble up move. Having said that, P/Es are way better now than 2000, and statistically, a bounce of 2-4% has more than 80% probability. Good luck with your trade.