1.
While the above advantages are bound to result in better average performance of the investments, it must be clearly understood that this can neither compete with abnormal appreciation of a few shares nor escape the effect of a bearish market when share prices are lower than their purchase price
2.
dodged one of his bearish hands and whirled away
3.
Bullish candles are the white ones (close higher than open) and bearish candles are the
4.
The MACD is a very popular indicator used to indicate bullish or bearish trends
5.
whether the price action is bearish or bullish
6.
average it is bearish and if it is above the moving average it is bullish
7.
The Volatility Ratio is an indicator which identifies the moment when a price breaks out of a ranging pattern in a bullish pattern or bearish pattern
8.
support level it is termed a breakdown and has a bearish flavor
9.
Finally, the Doji which looks like an inverted cross is called the Gravestone Doji and this candle signifies when at the top of a bullish uptrend that there could be a bearish
10.
However, the Graveyard Doji in the red circle signifies a strong bearish breakout
11.
After the bearish trend the price ranges and there are several Doji’s amongst the candles which have no influence on the price
12.
The blue circle on the candlestick chart confirms the bearish sentiment with a crossover of the 5 period moving average, downwards through the 20 period moving average
13.
The bears prevail and the price falls towards the 1st support level which it passes through with a small bounce (the green candle) before continuing the bearish
14.
Example of a bearish trend and a break in the Euro chart
15.
On a bullish trend chart it should be drawn using troughs, on a bearish – using peaks
16.
The trendline and a line which is about parallel to it and drawn on the opposite side (through peaks on a dullish trend and through troughs on a bearish) form the trade channel
17.
Example of a bearish channel and his break plotted in the Japanese yen chart
18.
If the neckline holds the buying pressure at point E, then the formation provides information regarding the price direction: diametrically opposed to the direction of the head-and-shoulders (bearish)
19.
If the original trend is going down, the formation is called a bearish flag (See Figures 4
20.
A real example of a bearish pennant in the Japanese yen chart
21.
If the consolidation occurs within a downtrend and the breakout continues the original trend, then it is called a bearish rectangle (See Figure 4
22.
Example of a bearish rectangle in the Euro chart
23.
the volatility in the ATR chart till a minimal from all visible values was a prediction of the coming after it bearish price reversal
24.
If +DI line is higher than –DI, a bullish situation exists, otherwise – a bearish as in Figure 4
25.
selling (bearish reversal) signals come into play above 90% after the currency turns
26.
A rising diagonal triangle type 1 is bearish, because it is usually followed by a sharp
27.
the last two weeks, when they will turn suddenly bearish (3Ney, 158)
28.
The bearish candlestick, though looking similar to the bullish candlestick,
29.
For me, I have chosen green as the color of the bearish
30.
within the trend lines A and B, or channel line AB, until the point where the bearish engulfing pattern (we will cover this on the next section) appeared in July, as pointed out by the big arrow
31.
will have to be a bearish candlestick as the market continues the
32.
The bearish candlestick on May 5th completely engulfs the
33.
So, for the technical trader, say after finding out a bearish pattern appearing in the charts, feels that the market will likely to move downward, while the fundamental
34.
trader, say heard a bearish report released in the market, and feels that the market will likely to move downward
35.
likely tell you the results, while the fundamental trader heard the bearish
36.
and not worrying that I’ll miss the opportunity of a possible bearish
37.
The bearish reversal candlestick formation was spotted on Feb 15
38.
FCL was spotted a bearish reversal candlestick formation on 29 Feb
39.
before market opens which fulfilled all the bearish reversal conditions
40.
GG was spotted a bearish reversal candlestick formation on 17 Mar 08
41.
AEM was spotted a “Shooting Star” bearish reversal candlestick
42.
MCK was the third bearish reversal trade I did together with ACOR
43.
bearish reversal candlestick formation on my screener on 15 Jan 08
44.
Is there such thing as a bullish or a bearish consensus? It is a
45.
respond to the different market conditions: bullish, bearish, or neutral
46.
and by bear, or bearish, I mean when the stock is going down
47.
Lydgate could not show his anger towards her, but he was rather bearish to the Captain, whose visit naturally soon came to an end
48.
The cycle of birth and death • cosmological analogy • business competitors and value investors eventually cause the death of the crowd • once the crowd disintegrates, a new crowd often starts to form in response to the extended movement of prices • crowd formation causes (and in turn is caused by) excessive price volatility • bearish crowds are different from bullish ones • the 1994-2000 stock market bubble • stock market valuation and Tobin’s q ratio • it’s different this time • the new information economy • shattered dreams • the bear crowd of 2000-2002 • the quest for certainty • the conflict between science and certainty • every opinion has its rationale • instinctual belief • the need for affirmation • pied pipers lead the crowd • mental unity of crowds • intolerance of contrary views • examples from the 1994-2000 bubble • Julian Robertson, Stanley Druckenmiller, and Gail Dudack • Allan Sloan and America Online (AOL) • social and financial pressure on unbelievers • price volatility and homogeneous thinking in crowds • price volatility is one sign that a crowd is mature
49.
The fear of financial loss unites them into a bearish crowd and leads to the articulation of their bearish investment theme
50.
The movement is reinforced by the natural economic forces if they have had time to operate and if the bearish market mistake is large enough
51.
The return to fair value accompanies the disintegration of the bearish information cascade and sets the stage for the birth of a new, bullish investment crowd
52.
Bullish and bearish investment crowds in turn drive the market price above and then below fair value
53.
So far I have depicted bullish and bearish investment crowds pretty much as opposite sides of the same coin
54.
In fact, the growth of a bullish crowd generally proceeds at a more leisurely pace than does the growth of a bearish crowd
55.
In contrast, bearish crowds form and dissolve over relatively short time spans, and the market mistakes they cause are for the most part of comparatively short duration
56.
In any case, we will find that this difference between bullish and bearish crowds is itself evidence pointing to the essential characteristic of all investment crowds: Their members eventually behave as a herd—a mass of individuals whose behavior is governed by instinct, suggestibility, and imitation, not by reason
57.
I have explained the process by which the typical bearish crowd develops
58.
The disintegration of the preceding bullish crowds triggers the birth of new bearish crowds
59.
Remember that the fair value price is only a signpost on the road to the inevitable undervaluation that will be forced by the growth of the bearish investment crowd
60.
Let’s get back to the story of the 2001-2002 bearish investment crowd
61.
These are the potent ingredients from which the theme of nearly every bearish investment crowd emerges
62.
Bearish crowds tend to develop quickly because most members already have experienced financial loss
63.
But in the case of a bearish investment crowd, today is filled with financial pain
64.
I will discuss the 2001-2002 bearish stock market crowd in more detail in subsequent chapters
65.
The drop in the market price back to fair value during the death of a bullish crowd and the rise in price back to fair value during the death of a bearish crowd generally attract a lot of attention
66.
Like so many experienced market watchers, Dudack recognized the stock market bubble for what it was, and in late 1997 she announced her bearish views to her clients
67.
By November 1999 her bearish views had so irritated Louis Rukeyser, the show’s popular host, that he removed Dudack from his list of regular guests and from her slot in his Elves Index, a joint market assessment of the technical analysts who appeared on his show
68.
Why? As we will see later, the bearish crowds of 2008 are very powerful, indeed much more well-developed than were the bearish crowds of 2002
69.
I don’t think we would see such strong bearish information cascades occur in the midst of a bull market leading to a bubble top
70.
This is the time to look closely for evidence that a bearish market crowd has become mature and is about to begin its process of disintegration
71.
In this particular column Hulbert tells the reader that the bond market timing newsletters he tracks at the Hulbert Financial Digest have as a group never been more bearish on bond prices
72.
” It warned that the yield curve was about to invert and said this was bearish for bond market investors
73.
At the time, the investment crowd focused on Google was a bearish one, not the bullish crowd one normally expects to see at the time of an IPO
74.
My basic theme was that until the bearish crowd in Google morphed into a bullish one, Google’s stock price would probably rise far more than anyone expected
75.
In it he made two observations that put him in both bullish short-term (right) and bearish long-term (wrong) camps
76.
First, the inveterate stock market bear, Alan Abelson, noted in his column that the latest Investors Intelligence survey of market letters showed more bearish sentiment than at any time since the bear market low of October 2002
77.
” In other words, Abelson dismissed the longer-term significance of the large bearish contingent in the survey, arguing instead that, aside from a short-term bounce, the bears would be right this time
78.
In my experience there is nothing as bullish as a bearish view that explicitly dismisses the significance of widespread bearish sentiment
79.
In this instance the choice of Haugen as the subject for this story was essentially an attempt to appeal to the current fears of Barron’s readers and to offer an implicit bearish prediction of the future
80.
The June 18 Sunday edition of the New York Times had a column by Mark Hulbert in which he also catered to the then-current bearish sentiment
81.
One would expect such a cover to express bearish sentiments
82.
Moreover, this GM cover was starkly bearish in tone
83.
Appearing as it did after a monthlong drop in the stock market, it strengthened and amplified the emotions of the bearish crowd that had developed by then
84.
On average, bearish crowds disintegrate sooner than bullish crowds
85.
Moreover, one often finds a very short-lived bearish crowd developing in response to some external event, which is blamed for a relatively brief drop in the averages, say one lasting a few weeks and amounting to 5 percent or a little more
86.
The prospect of war almost always encourages the growth of a big bearish crowd
87.
But once war is declared, this bearish crowd begins to disintegrate as soon as there is reason to expect ultimate victory
88.
Most financial crises are of relatively short duration, and as a rule they generate bearish investment crowds
89.
In a matter of days or weeks the associated information cascade has persuaded everyone who can be persuaded to join the bearish crowd
90.
The crisis reaches its climax with some sort of government intervention—a guarantee or rescue—and the bearish crowd begins to disintegrate
91.
An interesting thing about Google is that there was a very well-developed bearish crowd at the time of its IPO
92.
Simultaneously a huge bearish crowd had formed in the bond market
93.
The bearish investment crowd in the bond market was so adamant in its views that in late 1982 I was prompted to publish a bond market prediction
94.
Naturally, exactly the same considerations apply to bearish-looking price charts and bearish investment crowds
95.
Newcomers to the art of contrarian trading are often confused by the fact that in any market at any point in time there are always some bullish and some bearish voices to be heard, each with its own plausible arguments and rationales
96.
It is only human nature that this side of the market will be the one associated with the most recent, strong, and durable trend in the market price: upward for a bullish crowd and downward for a bearish one
97.
The novice’s second mistake is to seize upon a prominent bullish story that appears very early in a bull market or a very prominent bearish story that appears early in a bear market and conclude that the new trend is about to reverse
98.
Certain bearish market prognosticators of the time, Joe Granville in particular, interpreted this cover as a sure indicator of an imminent market drop
99.
When the Barron’s cover appeared in 1982, the market charts of the stock averages showed either a bearish or a flat longer-run trend
100.
So the experienced contrarian trader had no reason to draw bearish inferences from the Barron’s cover