And when will that be? New readers are encourged to read Autumn Panics: A Calendar Phenomenon – which is available here on the MTA website as the 1998 Charles Dow paper. It remains the standard research report on panic timing and I’m proud to be its author.
Credit Poison
October 6th, 2008 at 8:01am · 3 Comments
I titled Friday’s intra-day update ‘poised’ – perhaps it should have been ‘poison.’ Pay attention or pay the offer has done a pretty good job identifying the 20-40 point eMini swings in advance, but Friday’s call was an egg. It happens. It also illustrates what I think is the bigger, and more dangerous picture. Events in stocks are being dictated by the credit collapse and panic. As a technician who’s partial focus is on stock index futures, it is time to be aware that the credit situation is calling the tune, and no amount of bullish indicators are going to change the direction of stocks until the panic runs its course.
Tags: Editorial · General Market Commentary
3 responses so far ↓
1 jkw // Oct 6, 2008 at 9:50 am
Chris…..thank you for alerting us on the Autumn panic. Can you give us a some short term advise…..How many days are we so far to the 27-29 dark days bottoem? I am still holding some stocks and wonder if it is too late to sell or if we have much further to go.
2 drmark // Oct 7, 2008 at 10:10 am
I have the dark days bottom on 10-26, in the morning (+/- 12 hours). That is on a Sunday, so I would guess the panic low would go into the previous Friday’s close on 10-24. Any thoughts anyone??
3 tobject // Oct 9, 2008 at 4:21 pm
drmark, 29th day starts at 2:35pm Monday
so how about Black Moday with 2:35 reversal?
or even to 28th as New Moon?
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