Discussion in 'Trading' started by Tuneman, Nov 5, 2006.
Monday: dow down 10-30 pts
tuesday: dow down 30-50 pts.
The market should rally "strongly" on Wednesday because the uncertainty surrounding the elections will be resolved. Stay tuned.
I could see if the markets traded flat for the last 3 months leading up to this election on Tuesday but to say uncertainty, what uncertainty.....the markets rallied very hard these last 3 months. In the last few weeks articles have been showing that the democrats will take the House and the Senate most likely will stay with the Republicans.
My prediction is the Democrats win the House and the Republicans the Senate, most likely the markets may take a negative reaction to the democrats winning the house, even more downside if the democrats take the senate as well. Markets will most likely trade down by mid November. Everyone on Fox saturday morning was more bullish than the next talking about DOW 13,000 etc. Who knows, I see at least a 2-3% pullback before the next mini rally as for DOW 13,000, to early to tell.
problem is everyone on every show is a rabid bull. barrons dow 13k this weekend. it won't happen because all expect it. lol the bozo who said market rallies because its gone nowere with uncertainty. yeah right after a 1400 pt run its flat for a week
I say chop, with the uncertainty of the election.
I think that's very possible, for a couple of reasons. For one thing, the media has been reading the Republican Party's obituary for the last two or three months. Anything less than a complete, total wipeout of the Republicans will seem like a victory. Democrat gains have been hyped very, VERY hard.
Also, yes, we've had a big run already, but we're still in an uptrend and people are looking for an excuse to buy. Putting a contentious election behind us will be a relief for the market (and everyone else). Seasonal trends will probably help, too.
Sell on the news
exactly...............saw barrons on the news stand on saturday........that should provide the death knell for now.....not to mention everyone & their brother is bullish.
wow I guess I was wrong on my predictions, props to whoever called it.
Didn't the Rumsfeld resignation in my forcast ... oops!
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