descending triangle, page-7

I like to trade the trade, if anything the current trade is still the double bottom in the SPI( so LONG), no action required until porfit protection kicks in or stops taken out.

The Last line says it all
"An open mind is an investor’s best friend"


Bulls and Bears Can Always Make Their Case

Even during the most bullish of bull markets, it is possible to find enough information to build what appears to be a very strong bearish case. Conversely, bulls can selectively find information and historical data to support an approaching bottom during the most difficult bear markets. Global financial markets have a lot of moving parts, such as money flows, exchange rates, credit availability, economic stability, sentiment, regulatory risk, government intervention, earnings, valuations, money supply growth, etc. As a result, it is nearly impossible for any one person or organization to fully encapsulate all the factors affecting financial markets into any forecast, bullish or bearish. This is why it is very important to keep an open mind about all possible outcomes, even outcomes which are contrary to your view of the world. During a bull market, it is dangerous to become blindly bullish, especially after spectacular gains. Likewise, during a bear market, it is dangerous to become blindly bearish, especially after significant declines. The S&P 500 lost 46% of its value from the October 2007 highs to the October 2008 lows. While the current bear market could continue for years, it could also be closer to its end than many are willing to even remotely concede. An open mind is an investor’s best friend.