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I am neither bullish or bearing most of the time. It is
difficult to trade properly if you have an opinion. Some times the
simplest things are the best. A simple trend line or a tenet by some
guru. In this case Gann and his famous AB=CD. Price in the Dow
stopped here because it was supposed to if that rule has a basis in fact.
Now comes the retracement. If this breaks south again there is a possible
3500 point move if AB=CD for the next move. The funny thing is that right
now there is the possibility for a 3000 point move to the up side which wouldn't
void this downward spiral. All stocks won't go to zero even though many
stocks which were $100 + stocks a year or two ago are trading for pennies.
So keep a clear head and don't let bias warp your trading judgment.
Ira.
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