Wednesday, July 9, 2008

Bottom or midpoint consolidation

I've noted in the past that waterfall declines often have a midpoint consolidation before the final quick plunge. Of course not being able to see the future I really have no idea if we are trying to put in a bottom here or just putting in the midpoint consolidation which will be followed by 3 to 10 days of sickening declines. Just something to think about if you are listening to CNBC and contemplating going all in on the long side.