gann45: looks like its over I will be looking for one more down day then a large retrace that fills less than 50% of the 3 previous down sessions before I am happy to agree that the markets are beginning a small correction.
Dont be caught out again sounding so sure of yourself.
These markets have had a habit of surprising everyone - dont be alarmed to see a large period of consolidation rather than mass panic - agree that cooling off is needed, but I highly doubt the funds are going to clear their books just because the indices lose a couple of %. Look at the bigger picture. Lots more at play in this market run up given commodity strengths.
Take your 5-10% shorts, but i think you'll come off 2nd best if you think you're riding this one all the way down.
looks like its over, page-2
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| XJO (ASX) Chart |