It is especially difficult to pick bottom when the herd is charging through a small exit.
If one wait until the 'dust settles' then at least the timing is easier since all those wanting to get out have probably done so. Predicting the bottom is very difficult so sit back and wait for inspiration, pattern, setups or just gut feel as the last resort. Unfortunately in the midst of negotiating with the Chinese and a chairman selling in panic is not a good 'look' at the fundamentals. Couple with the 30M over hang where the chairman can sell into the market at any time is probably playing on the minds of the market participants.
1 day DCB is another sign of price weakness as I was at least 11.5C for price to reach before sellers come back in again.
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It is especially difficult to pick bottom when the herd is...
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