if a falling knife, bad news on the exchanges, and chicken little screaming about a 94% correction is not panic then i don't know what is.
at this point, we've completely deflated the bubble to $7.20. the Accumulation/Distribution Line is precisely at the level it was at the eve of the rally. in fact, this analysis:
Interestingly enough, if you compare the magnitudes of each rally and assume that they will drop as much as the first rally as a magnitude of the percentage, you get a "perfect" estimate of a 33% drop from our high of $7.22, bringing us down to $4.81.
...God damn 33% percent retracement rule.
Damn I'm good. Let's see if this holds......God damn 33% percent retracement rule.
...echoes my observation. bull market ahead! and i know there will be naysayers because that's what PANIC means. but i've already capitulated, so i'm just letting you guys know just how far ahead of the market im trading
