First off these groovy pictures, of nuke bombs and oil wells- you cut and paste or JPG or whatever the hell you do someone has to tell me HOW! I can't even import a freakin' chart! Secondly love the tuning Japanesea slant on the market! Until further notice that should be the theme song for 2007-- although "This Is The Day " by The The has been getting some good play on a new commercial so... THIS IS THE DAY YOUR LIFE WILL SURLY CHANGE... Well... you didn't wake up this morning Because you didn't go to bed You were watching the whites of your eyes Turn red The calendar, on your wall, is ticking the days off The calendar on your wall is ticking the days off You've been reading some old letters You smile and think how much you've changed All the money in the world Couldn't bring back those days. You pull back the curtains, and the sun burns into your eyes, You watch a plane flying across a clear blue sky. THIS IS THE DAY -- Your life will surely change. THIS IS THE DAY -- Your life will surely change. You could've done anything -- if you'd wanted And all your friends and family think that you're lucky. But the side of you they'll never see Is when you're left alone with the memories That hold your life together like Glue The analysis on this thread is of course perfect. Perfectly wrong. There will be this wave effect but the effect will be in reverse. No we will not go down that much today and compared to a big fall in the east that will tilt the seesaw that way and they will rally tomorrow and we will rally ontop of that and through friday. Stepping back and reviewing the hourly chart patterns, the 5-day snapback rally which reached a perfect 0.382 Fibonnacci retracement yesterday on the SPX, rolled over with authority, breaking two key levels of support today. It managed to retest that second level late in the session, but backed off again. A very negative close, very negative technical action. Right now as it stands the S&P 500 is not far off a retest of the entire pullback lows, and we expect we may see that today, just about the 4 points lower than where it closed. Nasdaq 100 lows are about 11 points below here, which could also be tested early tomorrow. >> so the facts say lower. The gut says higher. Who will win. Turning Japanesa or This Is the Day?????
so where`s your exit plan?....profit objective or stop loss?.....let me guess,you don`t have an exit either way..........buy,hold & pray was the mantra of many ghosts that faded.....you`ll be another casualty soon enough......good news is you won`t lose much with those 10 lots.
i've learned to give my opinion a 50/50 chance but i thought yesterdays selloff was very orderly,no panic,now we have double bottom ,churn here til thur pre expiration,dead on fri ,then bounce up on mon,it doesn't just go straight down,thats like buying your cars directly from GM,it doesnt happen
For real. I'm very bearish about all of this mortgage business...that's the bedrock of this market since the tech bubble...this is a sketchy time to be long. If need be, wait on the sidelines...but I'm extremely bearish for the next 6 months...not sure what good could possibly come out of it.
Markets uptoday nicely. Nasdaq rebounded off the low of 2340, but there could another selloff till support of 3320 is tested which was the support level back in Nov 2006. Or maybe not. Either way not a big deal.