Thursday, May 6, 2010

Island Bottom

Can't believe they did not pull the fuse. Remember, I am on record calling at least two market closures in this impending plunge. this chart has the dreaded Island Bottom. This will get closed. Sure that is academic at this point, Just pointing it out. Oh, and the retracement of the fall. Hmmmm, does she have some more to come. Nice stick save by the PPT there. That probably cost us a tril or two. No wonder the Fed had been stockpiling cash.