black tuesday coming, page-67

The comments this weekend are interesting as they remind me of July.

When that market had its first big drop we got a number of never seen before contributors saying that talk of a big correction was nonsense etc.

Those outsiders diminished day after day and some finally said they wished they had sold earlier.

The market may not fall further but I think the saying "if you are going to panic then panic early" is a beauty. Not much point panicking late.

I think best support is last years mid year lows at 50% correction of the bull.

However if the trend is to contiue for more years then the August lows probably need to hold and year end close needs to be no lower than around here for the channel.

Just guessing but a market bounce in the US Monday and even all next week would console a lot of people with the thought that Oct worries were unfoundered.

That sounds like a nice recipe for much bigger drop.

MBL on Monday will probably give the downside I was looking for that sets up a sharp 3 day rally, then down.

QBE was already busted.

Some exhausting diagonals had already broken down but now they all have. That normally means a swift move to the August lows, a bounce and then much lower.