This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Friday, 3 January 2014
I really dont see this breaking out like Kimble suggests....
I'm with you on this one. I generally like his stuff, but here he's ignoring the '73-'74 bear market "E" wave and the years of basing afterward before breaking out- we're nowhere near a point to make a reasonable comparison between the periods.
To be fair, Kimble seems to be suggesting that a break down is also possible. I think this is implied by his providing of the Q and PE ratios relative to the price position against trend lines. And Airyk, I am with you. It is remarkable how similar the price pattern is right now compared to the run up of the 73 bear.
I'm with you on this one. I generally like his stuff, but here he's ignoring the '73-'74 bear market "E" wave and the years of basing afterward before breaking out- we're nowhere near a point to make a reasonable comparison between the periods.
ReplyDeleteCheers!
To be fair, Kimble seems to be suggesting that a break down is also possible. I think this is implied by his providing of the Q and PE ratios relative to the price position against trend lines. And Airyk, I am with you. It is remarkable how similar the price pattern is right now compared to the run up of the 73 bear.
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