The short-term picture would darken if sellers take out the minor ‘D’ target at 49,360 shown in the chart. However, scalpers can bottom-fish there nonetheless with a very tight stop loss, or get short at the green line ‘mechanically’ if you know how to control the risk. A bigger chart suggests that Bertie would become a very appealing ‘mechanical’ buy if sellers drive it all the way down to the green line at 44,063. Regardless, our ball market target at 89,780 will remain viable as long as 28,824 is not exceeded to the downside. ______ UPDATE (Nov 30, 6:07 p.m.): Bertie swam against the tide with a modest gain. It was boasting that it knows something that those who were dumping stocks don’t. In this market, you have to trust seeming reckless speculation more than cold logic, so there’s your answer.
