Pronunciation: ˈkla-sik ri-ˈvər-səl
A sudden change in the price direction of a stock, index, commodity, or derivative security.
A reversal can be a positive or negative change against the prevailing trend. Technical analysts watch for these patterns because they can indicate the need for a different trading strategy on the same security.
Since I’m a numbers guy I tend to think in those terms. For example, around one year ago the Scruggs scandal broke and State Farm, with a large helping hand from several media and blog outlets, used that story to pummel innocent policyholders whose only crime was hiring a lawyer to help them fight for their contractual rights. The rest is history, some people were able to take the blows and keep on fighting. Others, like the McIntosh family gave out and settled for peanuts. Being on the receiving end of such a “reversal” really bites.
Since then the financial system has imploded thanks in large part to the same Katrina offenders in big insurance. The Republican party and their big business enablers have been bounced from office in disgrace. The winds of change are blowing and past due bills will be collected.
As I gaze into my crystal ball and look to 2009 I see a landmark case in Louisiana being litigated fully. And I see a great chance several cases in Mississippi will be litigated old school fashion, including the case of a “Gator”. (no Sup and CG I do NOT know that Gator personally). We will be here with gavel to gavel coverage throughout 2009.
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