bluey's flee bitten friday, page-51

I highly doubt XJO could hold at 3980-4050 range,we could see last year's low or even lower.
1. the worst is yet to come, Euro crisis is certainly not close to the end.
2. US market still has plenty room to drop.
3. XJO does not drop much from the top,only 400 poins so far
if we look back last 2 years, 2010 800 points, 2011 1200 points drop.
4. It normally takes 2-4 months to settle a retracement, 2010 2.5 months,2011 4 months plus,it's only 1 month so far.
5. We usually see a big down day with heavy volume 1.5B+ before the bottom, but we have not see if so far.
6. we are close to financial year end,people are selling for tax benefits.
In summary,we are still at the early stage of down trend,not close to the bottom yet.Patience rewards.
Above are just my 2 cent's worth.