I can't give it all away as paying subscribers would be cheated but read Carl Swenlin's latest piece on Decisionpoint.com (free article). The bottom line is that in bear markets things don't really bounce so much and that oversold can become more oversold.
Yeah, I've said all that, too. But he added that deeply oversold conditions in bear markets may lead to a crash, too. While he did not predict one nor would he take credit for calling it (his words) if one happened, you have to respect the bear.
I am not using the "C" word but I have already posted on the dreaded "C" wave.
We'll be doing some repositioning work this week in the newsletter.
Sleep well, kiddies!
2 comments:
Michael,
Advise your editors that the following site is carrying this article without ANY attribution to Barron's.
http://www.istockanalyst.com/article/viewarticle+articleid_2374606.html
I started to read the Barron's article AFTER i read it on that site. I said to myself "Whoa, i don't remember them saying that it was originally from Barron's". They even had the nerve to slightly change the title as if it was their own.
dave
I have long thought that the greatest misunderstanding in the mkts is the subtle but significant difference between a mkt that IS oversold or overbought & a mkt that has the ABILITY to GET oversold or overbought and STAY that way for longer than expected.
The second is a definition of momentum.
dave
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