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orthodoxymoron · 05-23-2009, 01:11 AM

Just a thought...I looked at a chart...and the Nasdaq is getting close to the 200 day moving average...which is steeply descending. If the price rises above this 200 MA...it will form an extended double top pattern...at the end of an extended bear market rally. There could be a downward shove from this MA. One scenario could be a rally at the beginning of next week(after a small initial decline into the 50 MA)...followed by a plummet which tests the previous bottom...especially if it is precipitated by a major negative news event. BankUnited failed yesterday in Florida...and this was a major closely watched event. Could this be a tipping point? Will we see more failures in the coming weeks?

I just made this BS up. I'm broke and don't really know what I'm talking about...so do your own research. Listen to people like Jim Rogers. George Soros has been known to be right. He was right about the October plummet. Insider information can make a man look like a genius. I think that the stock market is incredibly corrupt...and we might be better off without it. I think that puts me on the lunatic fringe. Be afraid. Be very afraid.

05-23-2009, 01:11 AM	#2
orthodoxymoron Avalon Senior Member Join Date: Oct 2008 Location: Lunar Base II Posts: 3,093	Re: Time to Be Afraid Just a thought...I looked at a chart...and the Nasdaq is getting close to the 200 day moving average...which is steeply descending. If the price rises above this 200 MA...it will form an extended double top pattern...at the end of an extended bear market rally. There could be a downward shove from this MA. One scenario could be a rally at the beginning of next week(after a small initial decline into the 50 MA)...followed by a plummet which tests the previous bottom...especially if it is precipitated by a major negative news event. BankUnited failed yesterday in Florida...and this was a major closely watched event. Could this be a tipping point? Will we see more failures in the coming weeks? I just made this BS up. I'm broke and don't really know what I'm talking about...so do your own research. Listen to people like Jim Rogers. George Soros has been known to be right. He was right about the October plummet. Insider information can make a man look like a genius. I think that the stock market is incredibly corrupt...and we might be better off without it. I think that puts me on the lunatic fringe. Be afraid. Be very afraid. Last edited by orthodoxymoron; 05-23-2009 at 01:18 AM.