Thursday, June 23, 2005

Big drop coming?



The markets have been really resilient recently despite all the bad news. But with today's breakdown, it looks like the bulls were just stubbornly holding on to the support level. Their efforts will probably end up in vain, as a falling market will force them to trim down their bloated levels of stock holding, resulting in a much steeper crash.

I'm looking for a retracement back to the recent lows.

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3:23 PM  

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