Two More Days of Time Disorder, Apologies.

2007/11/27 23:54:13

These past few days have truly been crazy, and time itself has fallen into disorder along with everything else. This state will need two more days. After finishing this post, I still need to modify a file — just hang in there for two more days.

Today's market moved with nothing worth talking about — merely a continuation of the trend after failing to break above 5160 points. From the weekly candlestick perspective, since this week will definitely make a new low, the weekly candlestick certainly cannot complete the construction of a bottom fractal. From a weekly perspective, as long as the 5-week moving average can't be reclaimed, one can basically stop watching this market — let it fall to whatever level it wants.

A drop of 1,000 points is a moderately prosperous level, 1,500 points is comprehensive moderate prosperity, 2,000 points is preliminary affluence, 2,500 points is moderately developed, 3,000 points is achieving modernization — what should we call 3,500 points? Please suggest.

Don't hate PetroChina. The appearance of such a monster as PetroChina is precisely the consequence of the ultra-low proportion of illegitimate blue chips that this ID has repeatedly discussed before. What's happening now is nothing — if there were index futures, then you'd know the true power of illegitimate blue chips. The current question is: why do issues that even toes could figure out keep appearing again and again in national-level decision-making? Who should be held responsible for such decisions?

In truth, any policy is fine — the key is having a minimum standard of accountability. Daring to issue policies but not daring to take responsibility, or designing recklessly without any need for accountability — that is the biggest problem.

Of course, regarding PetroChina's trend, this ID made it clear on opening day — it would follow the pattern of China Life, meaning a hard crash first, then a hard rally. The current problem is that too few people have cut their positions — without the sight of blood, a bloodthirsty market can't get excited. These words are cruel, but this is the market.

Without severed arms and legs of position-cutters strewn about everywhere, how could there be a bottom? The truth is as such — be cruel when cruelty is called for.

And the true killer is waiting for that bloody moment, like a jackal catching the scent emanating from its prey's wound. Sniff well.

Signing off, see you next time.