AIG bailed out and markets still falling, dow headed to 10k.

Discussion in 'Trading' started by S2007S, Sep 17, 2008.

  1. S2007S


    I could just imagine what would have happened to these markets today if AIG were not bailed out last night, I really think today would have been the 1000 point drop I have been trying to call for the last few months now. On a side note I think the markets will be extremely lucky if they close above 10500 today. I think the markets are setting up for an even steeper correction as these stories unfold. This market is not even close to dealing with whats ahead, GDP is going to drop to 0% to -1% over the next 12 months as unemployment rates skyrocket to 8%, I really do think we are going to see unemployment figures get to the double digits by late 2009 early 2010. You can forget about any kind of bull market for at least another 5 years, this is going to be the longest bear market in history and probably the slowest times in our economy since 1929. Many will disagree, do not pay any attention to the people talking positive about the economy, there is nothing to be positive about.
  2. Adobian


    Dow 8000 soon. This year.
  3. It's freaking scary trading these markets. What a collapse in ES!
  4. S2007S


    agree, I see 8000-8500 as a buying opportunity until then its going to a free fall to 10k.