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Bottom Callers of the World Unite

Posted By Barry Ritholtz On May 19, 2006 @ 4:00 pm In Technical Analysis,Trading | Comments Disabled

Why has the market failed to bounce (or bounce much, anyway) ?

My guess is that everyone is calling for a bounce.

Technicians, value players, macro-economic observers, traders have by and large been looking for a bounce (present company included). Me, Jim Cramer, Cody, Bob Carver [1], Dick Arms, BCA, John Roque, and many many others all asked for a bounce.

Hence, we didn’t get it.

A few people deserve credit for not guessing the bottom: in particular, Alan Farley [2] and James Rev Shark DePore.

BCA ran this chart:

Bca_20060519_1 [3]

>

A Technician friend sends this chart along:

Nasdaq_gso_chart [4]

Until we get more disbelief, there will likely be no bounce . . .


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2006/05/bottom-callers-of-the-world-unite/

URLs in this post:

[1] Bob Carver: http://marketclues.blogspot.com/2006_05_01_marketclues_archive.html#114800999137413352

[2] Alan Farley: http://www.hardrightedge.com/

[3] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/bca_20060519_1.gif

[4] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/nasdaq_gso_chart.png

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