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Cardinal Climax
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From: Maggy van Krimpen . (02 Jul 2010 15:57):
This is a timely reminder (your article) Marjorie.... justcruising hrough the BBC business news came across an article called "Do Chart Readings (!!) of Markets Spell Doom?" Then follows an imaginary conversation between an investor and stockbroker.....(inv) "You mean its not a double dip?"Sbroker: If only it was! Inv: What in heavens name is it then!.....slow reaction from s.broker....Ï fear we are looking at nothing less than The Death Cross....."
My eyes smarted on reading this - so soon after the cardinal cross. Apparently in you plot (on a daily basis) average price of an index over previous50 days and then do the same for its 200 day moving average, when the 50 day/200 day lines cross, you have a death chart......spelling doom in stocks or as theyput it cosmetically showing a major change in direction.......
I coould not believe the synchronicity of calling it a death cross, with the recent ecipse - in your opinion Marjor, will 1 July solar eclipse trigger panic in markets?
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From: greenhorn. (02 Jul 2010 13:42):
much appreciated, thanks
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