kianator

10 Contrarian Reasons for a Bottom

The S&P 500 has broken it's downtrend line, however, I would actually love to see a pickup in volume to indicate big money capital is returning. Let's see if that happens post-lunch and into the close.

10 Contrarian Reasons for a Bottom

For a short-term trade, for a short-term trade up to longer-term MAs and trendlines!! Unless, you see a a monthly close above key MAs and pricing levels.

Remember the so-called bottom of the Fall of 2001 as a case example of Wall Street getting tried of selling/shorting in deeply oversold daily/weekly charts and covering their shorts and going long sucking in the regular investors, and then crushing them later in 2002.

A lot of mutual funds and hedgies are down 30-50% in 2008 so they need this rally to just to stay alive in 2009. Those talking heads on CNBC and especially on CNBC Fast Money show, are DOWN this year and have been praying for a rally. Cramer has been a crying pig these days with his daily commentary going back and forth in a manic fashion.