new charts , page-39

I agree digilby, I am not convinced this is a bottom reversal trend "just yet". I need to see a general market reversal to convince me things are looking up (XAO, XJO, XMJ). Presently, none of these charts have broken through the descending channel line, therefore (IMO) we are still bearish until the direction change has been confirmed.

As always the confirmation is only when the uptrend is back in vogue.


The problem is most "punters" like to buy into a descending trend because they think they are getting a bargain guessing that the bottom is near. 2 days of a bounce does not constitute a reversal.

Sadly many punters end up averaging down to minimse their loss. "Thus increasing their risk".

Hence, getting all bitter and twisted because their stock is not performing as they would have hoped and their bank balance has deminished substantially.


"Sheesh, I am starting to sound like a broken record".


Back to my hole.