feisty friday, page-5

Hi chaps,

we need a cool head and a clear chart atm. in hindsight we all got a little too bearish yesterday afternoon based on one low close by us and a trashed US futures.

looking at the chart a big fall last night was unlikely as we would have gone way outside the bollinger band. here's a bumper sticker for you "Old bear markets never crash, they just grind lower"....it looks like the rate of fall of this next leg down was getting a litle overdone. the last minute rally was as irrationally exuberant to the upside as the initial fall was to the downside.

We are way below the 50dma and the downtrend looks intact to me. expecting a slow grind down from here....any big swings will be counteracted the next day.

grind grind grind....that all we ever seem to do