I want to puke.... I don't think the nazdaq is done, in needs a few day/week rally then some real Fear.
I have no idea. Brian shannon suggested the idea of a retest.....
Art Cashin "High volume selling on Thursday brings capitulation on Monday tuesday"...... Well art, problem is the vix is no where near, we need to be in the high 20's to get that close to capitulation.
the things I like about that idea are that.... it seems Unthinkable, It also seems like .... well it seems like we have run out of pessimism...
Or not...
If everyone could pick the bottom, this would be easy....
I doubt it..... But.... We shall see.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Friday, September 5, 2008
Retest
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