So, here we are, a close under 8,000 and how could that be with every Buffet and his brother calling THE BOTTOM. EVERY cotton PICKENS one of them, dont feel sad for them if they a Billion, they got more, how about "Main Street" types like the ones I write for? lots of pain.
I'm gonna keep this brief, being right isn't that important to me, it is that you gain some insight into how you could have seen a rippins coming? What could you have done? (for my less TA infatuated readers)
I DON'T fight the direction of the 20 EMA, and when using weekly charts or even monthly you get a bigger picture, so usually when a cross of 20 down a 50 week and both are declining a BIG BAD BEAR IS MOST LIKELY UNDERWAY.
The VIX (volatility index) found on stockcharts.com as $VIX it is now in RISING trend (been in one) so those bottom pickers paid no attention to a fear index not broken down yet, so they got broken down.
Ones in charge dont know what to do, no play book for this, yet the inside crowd is lining their pockets as the FED banks gobble the leftovers, and the landscape of finance forever changed and for THEM the Paulson crowd....a LOT LESS COMPETITION.
D
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