The Dow Industrials has carved out a clear head and shoulders top which measures down to 10,300, still about 900 points from here.
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IMHO Korea/Kospi/EWY (which is getting hammered intraday right now) should be viewed as the canary of the global economy as its big-cap multinationals are levered to exports to US/EU/CHN/emerging mkts whether it's electronics, whitebox apps or container ships.
If you're bullish, play for a bounce off the bottom of a well-defined channel.
If you're bearish, short the breakdown down to 2006 levels.
Cheers.
Posted by: on the internet everyone has something to say | July 07, 2008 at 11:27 PM
Looks like you nailed that one. :)
For now...
Posted by: Michael | September 30, 2008 at 08:03 AM
Hi. In the future I'm going to keep here links to their sites. But I do not worry about the sites where my link is removed. So if you do not want to see a mountain of links, simply delete this message. After 2 weeks, I will come back and check.
Posted by: Duka | May 11, 2009 at 03:33 PM
I really enjoyed this post,especially the examples in this post” portion which made it really easy for me to SEE what you were talking about without even having to leave the article.Thanks~
Posted by: Timberland Store | January 09, 2012 at 07:13 AM