I'm thinking... 1. Market's been holding in with the belief that the monetary carpet-bombing will loosen the credit troubles. 2. There is a fair amount of expectation that the economy will turn up by mid 2009, so a market low here is "justified". I think they're wrong about #2. The recent low is/could be a eWave 3 low from the high in October, 2007. If that's the case, the W5 low should be mid 2009. And that W5 low might not be the end of the bear market, but rather only "W1 of W5 of the BIG bear"... if that turns out to be the case, then THE low will be 2013-2016-ish. So... everyone needs to have a trading strategy which accounts for they fact that "I am wrong, and so are they"... good luck.
What the fuk is going on in dow??? :eek: We get nearly double the expected non-farms joblosses, a number that alone would have been the worst in 20years!!! Yet dow just flat-lining /rising slightly
carda are dealt... lol Its just all the traders in usa who are being lazy this morning over there and not getting to their computers and trading..., markets have been so so dull all day! Hopefull when 2.30pm hits and usa pits open we will get the crash
you'll get your answer at the closing bell. futures rebounding a bit but i am guessing thats a few guys covering shorts who established positions at the close yesterday expecting a bad report.
the above graph is from the 70's were inflation was 14% and should have inflated assets huge and still the mkt was flat. also this time we have world wide economies coming off historic bubble 5 year moves so the bust will be much greater than the 70's.we're making the mistake this time of seeing the mkt not fall and thinking ok its business as usual its built in. wrong we go much lower in 2009