That makes sense. To me talk of "where is the bottom" should probably be more like "how much further down does this cliff go". I agree that calling a bottom is tough, and avg'ing value works, but sometimes I do need to sense whether it still looks like a bottomless pit or just a hole of some reasonably small size. Today it is looking like a toss up to me. (you are up late/early)
PS This is getting so perverse. Equities and gold being said to stabilize and appear to rise in the overnight - because the less than positive GDP data and recent China data indicate economy is less good than the picture the Fed had painted, hence the pullback from easing may be further in the future. The markets go up due to the economy in US staying closer to stall mode, down when recovery seems to possibly be on the horizon. wtf Have a good night - need to go tend some citrus irrigation so offline likely until open.
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