As of this morning, it appears we are climbing up into the day after Thanksgiving high as expected. Though it looks labored at this time, it is to be expected after such a long and steady advance since last March. For that, I am thankful as my portfolio is much improved from a year ago. As much as I feel the need to protect those profits, I also must be cognizant of the strong possibility that this advance is nowhere near complete as evidenced by the continued bearish sentiment which can be found most anywhere in the blogosphere. Let me ask you this, how many purely bull boards can you name versus just the opposite? Lets face the facts, this decade has pounded the bulls and the bears alike....the end result seems to be fear and loathing of the markets in general.
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Enough babble for now. Here's hoping everyone out there enjoys a safe and rewarding Thanksgiving surrounded by the people who really are important ....your family. Enjoy them, for life is indeed short.
3 comments:
Great blog ... can you explain what the dotted zig - zag lines mean ... also how do you determine what the highs expected are ?
Anon...the dotted lines are a shot at the minor trend channels as the trends begin to take shape. By no means are they perfect, simply a guide to channels that may contain price movement within each tidal trend.
No real attempt is made to determine high and low values, only the change in trend dates which comes from the tide dates. It just so happens that the larger trend (indicated by the two upsloping lines) has more or less contained price movement during this bull run, and I pretty much use these lines to begin and end the tide trend lines. Nothing real scientific, just a visual guide.
This time the tidal long trend will probably take a beating for the first time in a long time and unfortunately, so will I ;-(
Joe
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