DrStool Posted March 25, 2020 Report Share Posted March 25, 2020 2 hours ago, fxfox said: Regarding the 70s: The nominal low in 1974 was never seen again. The real life for normal americans became even hard after 74, the economy was in recession, social unrest, murder gangs and whatnot. But the nominal low was already behind us and was not even tested again. That is what we do: We analyse and make our decisions based on NOMINAL price charts. We do NOT use inflation adjusted price charts. No chart service does this. Furthermore we have to take into account that the 70s had to deal with two major external shocks: First the abortion of Bretton Woods and then the oil crisis. It took years for the global economies to adopt and deal with it. During all that time the nominal price low of 1974 was never seen again, it got not even tested. I was there. The first bottom was in October, successfully tested in December. The crash in the summer of 74 was low volume affair 3-8 points per day on the Dow. Nobody saw it because after 6 years of a secular bear market, nobody cared. I'd lay odds here that this low, if it even was the low of this leg, was just the first of what will be a long grinding bear market. Also, wouldn't it be funny if in a day or two the market averages are 20% off their lows, what will the TV talking heads say? New bull market? Probably won't happen. Link to comment Share on other sites More sharing options...
fxfox Posted March 25, 2020 Report Share Posted March 25, 2020 Doc, at CrapNBC everything is possible! I even think that Cramer sends some Albanian hitmen to get Kudlow. Link to comment Share on other sites More sharing options...
fxfox Posted March 25, 2020 Report Share Posted March 25, 2020 and right now secs ago this one: Prince Charles has coronavirus. Footsie down 1k. Link to comment Share on other sites More sharing options...
fxfox Posted March 25, 2020 Report Share Posted March 25, 2020 DAX 9620 ES 55 points off the high, 2452 Link to comment Share on other sites More sharing options...
fxfox Posted March 25, 2020 Report Share Posted March 25, 2020 DAX 9550 ES 2430 Link to comment Share on other sites More sharing options...
Jorma Posted March 25, 2020 Report Share Posted March 25, 2020 More news ticker fun. "Clear Channel Outdoor drowns down $150 million under revolving credit facility." In all seriousness one thing will save the system and one will buy it time. The savior; vaccine. To buy time; widely available and simple to administer treatments to prevent cases from destroying lungs and killing patients. Money alone isn't going to do it. Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 25, 2020 Report Share Posted March 25, 2020 looks like 2400 is the Maginot Line >: and its is saved, 2420 and buy it higher Link to comment Share on other sites More sharing options...
DrStool Posted March 25, 2020 Author Report Share Posted March 25, 2020 The Germans just went around the Maginot Line. Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 25, 2020 Report Share Posted March 25, 2020 I use the "Maginot Line" as a Joke........Just like the CB's/Algos >: the channel(s) are where it is......Unless the channel becomes a "chunnel" >:: Just walking it higher, and looking for a green open >::: If the last hour of the NYSE trading day is the "hour of power" what is the hour before the NYSE trading day starts? Link to comment Share on other sites More sharing options...
DrStool Posted March 25, 2020 Author Report Share Posted March 25, 2020 LEE'S FREE THINKING Left Shoulder, Head? The Boing Boing Takes a Breather by Lee Adler • March 25, 2020 • 0 Comments OK, there’s a rally, but it’s not like the 2009 or 1974 bottoms. Link to comment Share on other sites More sharing options...
DrStool Posted March 25, 2020 Author Report Share Posted March 25, 2020 52 minutes ago, MisFit Kid said: I use the "Maginot Line" as a Joke........Just like the CB's/Algos >: the channel(s) are where it is......Unless the channel becomes a "chunnel" >:: Just walking it higher, and looking for a green open >::: If the last hour of the NYSE trading day is the "hour of power" what is the hour before the NYSE trading day starts? The Golden Shower Hour I love the Maginot Line. It's so French. Build an impregnable defense so the enemy can just go around it. Such a great market analogy. Now, in a death defying act of sheer terror, I'm going to the supermarket. There I will have close contact with a cashier who has had close contact with 10,000 people in the last couple of weeks. Link to comment Share on other sites More sharing options...
DrStool Posted March 25, 2020 Author Report Share Posted March 25, 2020 Base breakout measures to 2640 Link to comment Share on other sites More sharing options...
MisFit Kid Posted March 25, 2020 Report Share Posted March 25, 2020 2500 easy peasy Link to comment Share on other sites More sharing options...
itiswhatitis Posted March 25, 2020 Report Share Posted March 25, 2020 3 hours ago, DrStool said: I was there. The first bottom was in October, successfully tested in December. The crash in the summer of 74 was low volume affair 3-8 points per day on the Dow. Nobody saw it because after 6 years of a secular bear market, nobody cared. I'd lay odds here that this low, if it even was the low of this leg, was just the first of what will be a long grinding bear market. Also, wouldn't it be funny if in a day or two the market averages are 20% off their lows, what will the TV talking heads say? New bull market? Probably won't happen. I’ve been thinking they need to jam this over the next week and a half, until March 31. So when quarterly statement comes out in April it doesn’t look so bad. Link to comment Share on other sites More sharing options...
DrStool Posted March 25, 2020 Author Report Share Posted March 25, 2020 2660 would be a 20% rally off the low. Ohmygawd would that be funny. BULL MARKET! BULL MARKET! LOL Link to comment Share on other sites More sharing options...
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