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sure. djia bottom in last down cycle was 7500 in oct 2002 … and then almost again when revisited at 7750 in march 2003 … then off to the races. and note that there was a huge bounce off of 8200 in sep 2001 before even getting to the real bottom in late 2002. you’ll find similar charts in other downturns – fake biggie bottom, then real biggie bottom, then retest it. remember, there is no such thing as a tripple bottom or tripple top. point here is that it’s a decent bet we’ll test 8000 again and quite possibly go through it on our way to the real bottom.
Ok back from my nap. I see somebody looked up that word, shaggindefrau or sigmundfreud or whatever. At least I have you thinking, which is more than I can say for most others.
I should tell you, however, Miss Muffett, that spell checking is the internet chat equivalent of sending back food in a restaurant. First, nobody else really wants to hear it. Second, contrary to the complainer’s belief; it doesn’t make them seem smarter or more cultured only picky and annoying. And finally, it only gives the kitchen staff the opportunity to dip the food in a vat of last week’s fat runoff.
That being said, I’m not exactly gloating, only giving back some of the hyperbole that was rampant on Friday and curiously absent today.
Legion – I’m glad you made money today, but that does not change the fact that historically, more pain has followed the kind of market activity we’ve seen last week. It’s not like today’s rally, or even tomorrow’s, magically makes everything better – this hangover was too long in the making. I too am glad the bottom is not continuing to drop out for now, but I hardly think it’s cause for the kind of gloating you seem to thoroughly enjoy – that kind of reaction is a little premature, to say the least.
“Ha ha ha, tee hee hee, ha ha ha,”
He said as he sipped his Chateau Mouton Rothschild and slowly took a draft from his Cohiba gordo.
Rolled on the hips of virgins, was his last thought as he slipped into an early evening nap.
sure. djia bottom in last down cycle was 7500 in oct 2002 … and then almost again when revisited at 7750 in march 2003 … then off to the races. and note that there was a huge bounce off of 8200 in sep 2001 before even getting to the real bottom in late 2002. you’ll find similar charts in other downturns – fake biggie bottom, then real biggie bottom, then retest it. remember, there is no such thing as a tripple bottom or tripple top. point here is that it’s a decent bet we’ll test 8000 again and quite possibly go through it on our way to the real bottom.
yawwwwwnnnnn,
Ok back from my nap. I see somebody looked up that word, shaggindefrau or sigmundfreud or whatever. At least I have you thinking, which is more than I can say for most others.
I should tell you, however, Miss Muffett, that spell checking is the internet chat equivalent of sending back food in a restaurant. First, nobody else really wants to hear it. Second, contrary to the complainer’s belief; it doesn’t make them seem smarter or more cultured only picky and annoying. And finally, it only gives the kitchen staff the opportunity to dip the food in a vat of last week’s fat runoff.
That being said, I’m not exactly gloating, only giving back some of the hyperbole that was rampant on Friday and curiously absent today.
BrooklynLove – can you give some more explanation please?
educate yourself by studying late 2002 through early 2003 charts
P.S. Legion – it’s “schadenfreude”.
Legion – I’m glad you made money today, but that does not change the fact that historically, more pain has followed the kind of market activity we’ve seen last week. It’s not like today’s rally, or even tomorrow’s, magically makes everything better – this hangover was too long in the making. I too am glad the bottom is not continuing to drop out for now, but I hardly think it’s cause for the kind of gloating you seem to thoroughly enjoy – that kind of reaction is a little premature, to say the least.
“Legion apparently rolls his own,” he replied, as he sipped his seltzer and took an extra crunchy chip from the bag of Lay’s Kettle Cooked.
“0 grams of trans fat” was his last thought as he slipped away from the computer.
“Ha ha ha, tee hee hee, ha ha ha,”
He said as he sipped his Chateau Mouton Rothschild and slowly took a draft from his Cohiba gordo.
Rolled on the hips of virgins, was his last thought as he slipped into an early evening nap.
Congrats, Legion. Now you have TWO nickels to rub together.