playbig. BWAHAHAHAHAH! He was the ultimate contrarian indicator. Just do the opposite of him and you made money hand over fist.
You're joking, right? The bubble will have popped when the SPY goes to 150 and the QQQ goes to 70. I want to see GOOG under 540, AAPL under 74, AMZN under 400, NFLX under 50, FB under 80 and TSLA under 110. That's roughly a 20% haircut from where we are today. Until this happens, I don't see any "end of correction". Things are just getting warmed up and if China reports that their F/X reserves shrank by greater than $118B come Sunday night, we could see real blood in the markets and a greater than the 20% haircut I'm expecting. Got some gold or silver? You'd be wise to diversify into some physical PM's.
A couple years ago I changed the RSI and the fast stochastics from 14 to 21. With this change I found I was better able to see bottoms a little more clearly and precisely. It also reduced the number of false bottoms by about 12%.
Haven't forgotten them at all. I didn't mention them because they don't need to be saved. Actually, it's quite the contrary. China should level all the ghost cities and re-build them.
China has a very serious problem and they have to decide the following:
1) save their zombie companies?
2) save their stock market?
3) save their currency?
They can't do al three. My guess is they have to choose #3.
BTW....the EU banks are already in the chyter.
#$%$. Jim is one of the best contributors on these boards, and he at least has the stones to put his trades out there in real time. You?
"Baltic Dry Index is the best indicator of economic health worldwide."
The HARPEX is a better indicator as it contains measures for all eight classes of container ships while the BDI only uses four. I don't know anyone who is still looking at the BDI -- except for CNBS and their non-thinking viewers.