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23/03/20
15:37
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Originally posted by voltaire:
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I have been trading markets for more than 40 years and this is certainly the wildest ride I have seen. I have some thoughts though. I barely survived 1987 BUT I noted that XAO rose about 5.2X the 1982 low into the 1987 top in 5+ years. The subsequent drop was 0.618 of that bull market and also 0.5 of the high to zero. SPX has risen about 5.1X the 2009 low into 2020 in 10+ years. IF this drops to 0.618 of the 2009/20 bull market and 0.5 of the high the target is 1700. Allow a few points and of course nothing is ever guaranteed. Sounds like a worthwhile buy point though and place your stops.
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Hi Voltaire Long time no hear. I'm looking somewhere between 3480 and 3580 for the XJO