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Wednesday, January 14, 2009

Bear Wedgie: Breakout!

I first warned about it in Good Start to the Year: Beware the Bear Wedge and mentioned it again in Non-Farm Worst Since 1945: Market Likes It.

In Bear Wedge: Breakout? I wrote: “This raises the POSSIBILITY of a breakout of the Bear Wedge. Confirmation is still required, but it already feels good…”

Well, "breakout confirmed" would almost be an understatement...


gary said...

sold part of my srs/faz/eev position....see if we bounce off support over the next couple of days...also opex. try and buy back some shares at top of bounce. i dont know elliot wave but so i dont know how high we could bounce but it would be a good idea to really buy in as the next down turn will probably be the'big one'..............

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