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Friday, May 18, 2012
Facebook's round trip...
A whole lotta nothing goin' on as it ends at the IPO price after the idiots gapped it up at the open.
Based on monthly and weekly RSI readings the miners should be at a major bottom within the next 2 months. The broad market should continue to be a bloodbath since ma and pa are pretty much all in based on DecisionPoint's historically low Rydex cash levels and low Rydex bear positions. We must thank Apple for putting a bubble top in the market, and thank Facebook for continuing the euphoria as the market bleeds away. Miners bottomed first in 2008 which makes it even more likely they will bottom first this time around too.
I have to admit I don't see all the fuss about some website where teenagers go to post sentence fragments and rap lyrics.
ReplyDeleteThen again I didn't buy LiveJournal or MySpace when they IPOed either.
Based on monthly and weekly RSI readings the miners should be at a major bottom within the next 2 months. The broad market should continue to be a bloodbath since ma and pa are pretty much all in based on DecisionPoint's historically low Rydex cash levels and low Rydex bear positions. We must thank Apple for putting a bubble top in the market, and thank Facebook for continuing the euphoria as the market bleeds away. Miners bottomed first in 2008 which makes it even more likely they will bottom first this time around too.
ReplyDelete