Google's little joke...
I opened the browser, saw a 1,362-point drop and thought emotically. OMG! But yes, it was a glitch. Nevertheless, today appears to be little different to yesterday. My Chinese friend, Jim, reckons the market should find support at 7,180. Should it break through that, it will be (as Mr. Morrison put it) "...all over."
OK, you and I know there are millions of chartists out there and the best they can do is give us some indication of a probable event but, hey, this has to stop somewhere. Doesn't it?
I've a strong feeling we've seen the end of the capitulatory phase and, by Monday, much of the dust will have settled. Call this the Golby Fallout Shelter Method or something, but trust me on it. Recognising the return of the bull is a visceral thing and I have been watching the markets for several weeks now (well, it seems like several weeks). Never mind... I consider myself something of an expert in these matters.
Besides, I think Warren Buffett, taking a beating right now, is banking on my advice.
