well I always get the same questions, where to next, whats the bottom, whats the top etc.
the bottom line is calling tops and bottoms is a fools game and I wont do it myself.. its only an educated guess based on price, since price has memory, pivots and price points will be repeated.
so to keep it simple, what are the areas of support. well at the rate we are going I think that 26-27 are not out of the question.
it also should be no surprise or shock if we get a bounce and retrace of this weeks dumpage. seeing that we have had days of selling and today a very nasty gap down along with some heavy volume of selling. so the price action is ugly ugly.
thats why I am tempted and more inclined to wait and see what tomorrow brings us. I think we get a tad more follow through selling...
again this is just based on my experience, in the end what matters is what is the price dictating to do.
I just hope most everyone if they beenw waiting to buy, ease in and dont blow their wad. because usually this selling makes it seem like the worst is over and many times its just the start so being patient is good.
Posted 12/20/2012 11:55 am
! As I strut back an forth with the crown on my head pounding my chest rof
