3499 Points Continues to Determine the Short-Term Fate

2008/3/31 15:16:35

When everyone was rather excited last week, this ID already stated clearly: once the rumors fail to materialize, another round of retesting follows. As for the 3499 level I gave, it became today's oscillation center, and the close ultimately couldn't hold it.

Since this level served as today's oscillation center, if it can be reclaimed tomorrow, the market still has a chance. Otherwise, continued bottom-testing becomes inevitable. Bottoms aren't formed in a single day. Today's action is clearly slightly better than similar situations before, indicating that some new capital has entered and shows a degree of confidence in this level — otherwise, today would have been a one-way decline. Therefore, tomorrow's price action is crucial. If it can pull back above, it proves the new capital's confidence is still fairly strong.

But I've said many times: what's needed now is real substance. Without real substance, any confidence will be ground away. Without real substance, anyone's words are empty — will the market appreciate it? Too much empty talk only exposes one's incompetence. Anyone with eyes can see this clearly.

There's nothing else to say. Now it's just about waiting. Today is the monthly and quarterly candle close — those interested can look for themselves at how dire the medium-term situation is. If the market doesn't rally from here, there's an extremely high chance of forming a downward stroke on the quarterly chart. What that implies — think about it yourself.

The current person in charge of financial affairs has a very peculiar working style — this ID has far too much understanding of this. What should have come hasn't come. So be it.

Natural disasters aren't frightening. Therefore, one must be constantly vigilant against non-systemic risks. For retail investors, take a bite and run, then bite again when opportunity comes — that's the best strategy.

Signing off. Goodbye.