I’ve been talking about another leg down and I think we have it underway. Equities markets are crashing thanks to an ulterior motive based move by Obama. The market can see the dictator favors a strong UAW and weak or at best heavily saddled GM. This leg down will take us to lows or slightly lower. The next 20% move up from lows will most likely show the bottom is in. We don’t have long to wait for this move to complete. Once the avalanche starts it causes panic in the markets; which should last no more than 2 weeks. I foresee the market stalling for about a year moving up and down in these cheap prices. It looks to me like the real money makers will buy the lows and sell the highs in a channel pattern 5-10 times over the next year in a sideways market worth 250-300 points from top to bottom. It’s possible that the channel has a slight upward angle as well. The completion of a sideways market is usually a very fast move up or down, and I foresee a move up more so than a move down. Hope this helps.
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