Technical Analysis (continued)

A few weeks ago in this space, I put forth a theory about being at the bottom of a cycle of peaks and valleys. For those who subscribe to this technical analysis (i.e. charting), the belief is that the high/low points do not signal sharp turnarounds. Rather, the form meanders around the top for a while before beginning a gradual, subtle slide. Conversely, once the low is achieved, the form bounces off the bottom a while before rebounding. If I haven't lost you yet, I am trying to say that it feels like we are in the "bouncing off the bottom" stage. While the handful of races we had this week only produced a few minor checks, it was better then last month when we weren't cashing any checks and running near the back of the field. The critical question is can we survive long enough to see the form reversal? With opening day in Tampa coming 5 weeks from today, I would like to see some signs of improvement prior to year-end before deciding our next major move.