AG: Re: "bounced right off that 50EMA that has no "importance"... of course that doesn't mean we won't do a little rally back up and then reverse back through it on a second try"
Okay, how important will it be if it is breached the second time around? Not very....
I said the 50 dma has no importance to me if it is breached. And if it is breached I wont automatically become bearish and raise cash. Place to be bearish and to short and raise cash was in the 1967 vicinity.
Heck, many had this point as a bounce point. I posted about it too.
Any one know why we stopped at 1967 for now? Was that the 43.725 fibo. blibbo or the 152 week ema. I don't recall anyone projecting 1967 as a turn of some staying power? I certainly had no such number in mind when I was looking for a top. I did not care then just as I don't care now about 1842. I just shorted that number believed we were in the vicinity of a top and called it and made money.
Once we exceeded the 1940 people said that it was going to 2000? Wasn't that the last numerical target that meant something? Wasn't that the last target that was supposed to trigger a new big bull run?
I said back then that that the 1940 number would not make any difference to my forthcoming decline scenario. None whatsoever.
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