More Pain To Follow...

Although at this point we are ripe for a small bounce, I would tread lightly because odds are that it won't last very long. My charts are showing me that this correction is going to last at least another year (October 2009). Of course that doesn't mean that we won't bounce around a bit. I am also looking forward to a small number of possible longs to emerge as well. But still, the number of tradeable longs will be small and highly manageable. With the right position sizing one could still make some respectable double digit gains if they know how to hold 'em and when to fold 'em.