Stock market alert: weathering the bear slide

The stock market slid today around lunch-time. Why did the bears have their afternoon? Here's one set of reasons:
Stock prices tumbled across much of the world today amid worries of slowing economic growth in the United States and more difficult borrowing conditions that could make everything from leveraged corporate buyouts to purchases of new homes more difficult....Today the Dow plunged 311.50 points, to 13,473.57, while the S.&P. dropped 35.43 points, to 1,482.66. The loss in each case was 2.3 percent. The Nasdaq composite was down 48.83 points, or 1.8 percent, to 2,599.34. Losses of more than 2 percent were recorded in Spain, France and Germany, while Britain, Argentina, Mexico and Brazil fell more than 3 percent.
I don't know. I was watching the charts at the time. The charts do tell it all, and the bear slide was obvious on just about every sector and stock chart I reviewed. Whatever the reason, technical charting, I'm convinced, gives you the news: the news then gives you the reasons.

But why suddenly today, around noon, after several bullish days in a row? The New York Times does not tell us. Explanations are their specialty, but not the timing of the slide.

Here is something interesting. Two nights ago I had a dream. I was trying to drive a truck up a waterfall, but the truck slid down into a waterfall. The meaning of the dream was obvious to me. I had just been reading a passage by Oliver Velez in his outstanding new book, Strategies for Profiting from Every Trade, in which he compares a stock's momentum to that of a big truck. And what is a waterfall but a downward cascade of a bearish stock? (Or the reverse, rather.) A bear slide, that was the dream. Good time to short, not to go long.

As Milton Erickson, MD said: "Your conscious mind is very smart, and your unconscious mind a lot smarter."

Then again, when it comes to the market, no one has a crystal ball. The charts provide the telltale signs.
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