XJO 0.99% 7,896.9 s&p/asx 200

You may well be right bagus and I have asked the question a few...

  1. 17,175 Posts.
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    You may well be right bagus and I have asked the question a few times....is this a 2011 event or is it a 2007 type event?? I don't believe we have enough conclusive evidence yet. One thing that worries me is the attitude of many posters here who are stuck on one possible outcome, either bull or bear, to the point of getting hostile towards "the other team". This is not a game of football and there should be no need for any of us to get all tribal. There is a lot at stake here and getting it right, whichever way the cards fall, is of paramount importance and staying loyal to your team is for suckers as I found out for myself in 2007. Believe it or not it was Martis who I listened to in 2007 but not before copping a shellacking from the markets. Nevertheless I salvaged enough to fight another day where as others who at that time stubbornly remained abusive towards all bears and faithful to "the bull team" to the very end lost it all. There were many sad stories that came out of that. Posters lost their homes and their families because they got it wrong.

    I myself at this stage remain neither a bull nor a bear but I am staying on high alert. This is not a drill. This stage of the market calls for a code 1 state of readiness. I acknowledge that the bottom of the bull channel is very strong support as we have seen this week when it was breached then subsequently bounced sharply back up into the channel. This bounce should rightly give the bulls some heart. There was no such breach in 2011 however there were a couple of such breaches given off as "warnings" by the market at the 2007 top. A breach and recovery does not have to mean the end of the road for the bull market but neither should we arrogantly disregard the signs that the market may so generously be giving us. I made a statement yesterday......The more I learn the less opinionated I become and the current state of play in the market highlights the reason for such a motto.

    Consider the chart below carefully. You may well be right in your bullish belief but in my opinion a wise man will also pay respect to the views of the bears.

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    Last edited by NineLives: 28/08/15
 
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