Do you think this is just going to be a 2-3 day blib or do you guys think this is the long awaited correction that will last a bit longer? I am thankful that I got out of the market around 2 weeks ago. Perhaps a bit premature, but I couldn't stand the heat and I left the kitchen :) The ALSH was screaming B-E-A-R at the top of its lungs since then. The upwards forming wedge, the indicators being overbought (RSI and MACD specifically) and the weekly chart with 200wma remains a scary sight (just try it). Even the fundamentals were not that rosy (PE's and DIV ratios being on the wong side, not to mention the world politics). My reasons may not be that accurate, but these are the reasons why I took a breather and I am happy I did. I always find it fascinating when the fundamentals and the charts are in agreement. The charts say 'bear' and some idiots in the north is playing with uranium. The opposite is of course often true as well. 'Bullish' charts and then some reason out there that seems to confirm. I am interested on what the other forumites think about the dip we're having.
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