fraught friday, page-69

I just cant help looking at that weekly chart Volt and thinking there is still room to move down. I know the indicators say it's getting close to a bottom but how long can an RSI stay at 30? Normally it bounces out of the cheap range quickly but when it's over bought it stays above 70 for a while. It is possible it may go below 30 and stay down for a bit.

Yes we are also testing a long term trend line that has held for a long time but the golden rule of trends is they always end. The hard bit is when... The longer they hold, the more likely it is going to fail next time it gets tested. The current long term trend has been reasonably steep and tested quite a few times, surely that means it's odds of failing are increasing.

I would love to see our economy keep growing, resuming the upward climb, and prosperity continuing in our country. Things like new governments and long lived housing and resources booms don't really help. If the pace of gains had been a bit slower, I'd be a lot happier. The odds just aren't in favour of this all continuing imo.


/end of friday night opinion :)