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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Sunday, 4 July 2010

Don't forget the big picture !

"We have technicals that are breaking down, and we have moves that are accelerating down, and we have breadth that is increasing down. We have death crosses on many indices. We have topping formations that are happening in conjunction with a flattening 200 day MA and a clearly downturning 50 day MA on every single major US index. This is the main reason why I wrote: Real.

If you are a bull or a bear, it would make sense to wait for a clear bottoming move before either covering shorts or going long. This move is building up steam and is not something that makes sense to stand in front of."

http://marketthoughtsandanalysis.blogspot.com/2010/07/formations.html

A good post from Binve reminding us not to get too cute about the short-term squiggles !
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