Saturday, August 18, 2007 4:48:18 PM
Climactic action on 8/16/2007 = Climactic action on 10/28/1997 with extremely high volumes and the same VIX level to 37.
I commented on VIX breakout in Jun-Jul 2006 bottom call that market is showing similar pattern of 1995.
The current price pattern shows that we are in 1997 pattern when market corrected 10% after a correction of 7%+/- which is Jun-Jul 2006 low.
In 1997, we didn't have a retest of the low after similar "W" formation with lower/low with 10 %+/- correction which is the VIX level 37 which we have seen. After 1997 10% correction, market rallied 60% before 1998 correction of 20%.
In 1998, after 1997 bottom followed by a rally to 60%, we had 20% +/- correction with higher VIX level to 47.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22181738
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http://www.traders-talk.com/mb2/index.php?showtopic=75014
1929 speculation is an old news:
Isn't many others claiming 1929 case with very high level of shorts and "Squeeze" on Friday. The short squeeze is just started, I think.
Now, I commented that housing market topped in 2005, yes, I called "Housing market top" in 2005 and commented extensively on RE/ARM/loan problems such as "subprime drama" during Jan-Mar 2006 comments.
As commented during Jun-Jul 2006 bottom call with VIX breakout pattern in 1995... now we have the 1997 pattern.
Well, will see, Squeezes will go on since we have many are already shorted.... nothing unexpected since the 1929 case is already an old news.
What's not old news is that it is 1997 case with the Fed intervention.....
Why do you think that we had the Fed intervention!! It is because, I think, that the high speculative manipulation of short side for "1929 case"!
Well, it is nonsensical to compare Apple & Orange. We are in GLOBAL ECONOMY.
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