weekend chat, page-81

Everyone seems very convinced that a substantial rally is immanent, and this should be a concern.

Another thought is a small rally between now and armstrongs right shoulder. This may simply be due to a reduction in the rate of horrific news between now & March 19th.

Everyone is dying for this rally to happen; be honest your eager to buy aren't you? So a little rally between now and the right shoulder could spark off as the perennial bulls plow in (two good nights on the DOW should set them off). As Armstrongs model than suggest more horrific economic news dragging business confidence down further. Choose yr option, AIG, C, GM, Chrysler, Eastern EU sovereign defaults, worsening non farm payroll, and a plethora of "black swans" i'm sure hiding in the mist.

9L will correct me on my Armstrong thinking; but to me the right shoulder (whilst not an equity cycle) indicates much worse to come and very soon.