|im with bears case, i think monday and maybe tuesday we will have continuation of the rebound....but then, wednesday we go down again, i think that could be worst............by the way, when you say suspicious rebound on fruday...you suspect of what....banks trying to lift the market and "save" the rally?....or trying to lift it to get short..............Re: Comparison of Bulls vs. Bears Charts from 5-17-2010 to 5-21-2010 with Actuali...|
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| Reply to bearishben - Msg #1947244 - 05/23/2010 02:50|
Comparison of Bulls vs. Bears Charts from 5-17-2010 to 5-21-2010 with Actuality
Okay so last weekend, someone, it MAY have been TheMagician, i don't recall who and i cannot find the post, posted a chart showing what the bullish perspective thought was going to happen on the week of 5-17-2010 to 5-21-2010. I remember the chart looking something like this (with my words added):
This is just based on my fallible semi-photographic memory, but basically the idea was that this one bullish person posted a chart showing that there would be a rebound on 5-17-2010 (monday) and perhaps going into the end of the week.
Now, I did NOT post a chart showing the bearish perspective in reply, mainly because it was getting passed my bedtime and i was on a school Mac computer and didn't know how to screen cap a chart from stockcharts.com, but now that i have enough coffee in me, I will post what i think the bears thought would happen on the week of 5-17-2010 to 5-21-2010:
Okay and now lastly, here's what ACTUALLY happened in that beautiful, objective, mind-independent realm called REALITY:
So by these comparisons, it looks like both bulls AND bears were wrong, with bears slightly less-wrong than bulls, and slightly closer to the true trading activity for the week. The S&P did in fact tank, and tank badily it did, without pause or snack break, for the entire week basically, slicing through the 200-SMA, and finally bouncing on Friday, going green into the close (suspiciously...so suspiciously that even Jim-perma-bull-Cramer said it was suspicious!). Something to note though is that the 5-21-2010 low was lower than the flash crash and May 7th lows. uh oh..
but then again, we may indeed bounce for the week, who knows. if the pattern of bouncing on Monday continues, then we bears may get creamed come Monday morning if this happens: