Think back to last Friday morning in the pre-market hours. Futures limit down. CNBC announcing circuit breaker levels. If you knew in advance that Friday and Monday would be down days, with vicious selling near the close, would anyone believe that the Dow and S&P cash markets would still be holding above their Oct. 10 lows? Maybe that will change tomorrow. Or maybe the "selloff before Fed announcement day"/"buy on Fed day" (regardless of what the Fed says or does) will hold again. But I'm still surprised it hasn't been worse.
The fed cuts have been carrying less and less weight. Last year when Benjamin would cut rates, the market would zoom off to the moon, then with each additional cut, the effects became increasingly muted and discounted. Food for thought.
True. Only the first cut in Sep. 07 had a really big reaction and follow-through. However, the general sell-the-day before, buy the announcement pattern has held, for whatever reason.
Omigosh guys...look at the long term charts...Dow 8000 is a HUGE support level. It's gonna be fireworks if it's broken by more than 200 pts.
I don't think anyone here is making a case for the bulls, I know that I'm sure not, not until we see some strong buying and higher highs, higher lows.
REMEMBER the massive "buy programs" that spooled up when we traded below 8000 (they were very strong 7900 and below). You need to keep your watch on if we trade back down to those levels in the next few days. If you see no "buy programs" activating at those levels again, then you should be ready for a strong momentum move for a new leg down to lower pricing levels.....the yearly DOW low will get taken out with a fierce sell-off. 7500 or lower DOW would most likely result if the current LONG holders flip out of their held positions as 7800 area is tested.....be ready to SELL into the lack of "buy program" activity in the 7900 to 7800 levels if we trade there soon.
I see the DOW breaking October 10th lows as early as this week, after we break all support levels we are going to see probably dow 6000-6500, aside from that I do think however the markets will be staging MASSIVE rallies to the upside where we could see 1000 point up swings in a week or so, that will be opportunities to sell.
Nope. Markets gonna surge later this week. Ben the dog is gonna cut by 1/2 points and that is good for a 500 point rally at least. Then GDP will come in good and the market will rally another 400 points on that, too. There are tons of econ events this week and all of them will be better than expected: http://biz.yahoo.com/c/e.html Bad news is already priced in