Your right tradestrong, it's all the above as you've mention. But remember who are the one's that lose. We the People. They are coming after all of our money! Anyway they can get-it. This is just another way. trade well perr p.s. Don't let me have to remind you all again. [boy's and girl's] time to get-real-now.
US workers don't have any savings and those who have are severely punished by inflation and rates below inflation. Fed doesn't care about economy or people. They care only about their friend from investments bans
Well since the point and figure chart says everything is ok then it MUST be so. I've been trading since 1982 and I've sat through 1 major and 2 minor crashes. No offense but I always welcome them because it washes out the slop. Including all the so called technicians and ALL of their chart worship. I agree with this article completely, does that mean that we will crash again? Who knows but I can tell you that I would welcome it. Sorry but the business has become too frothy and it's time to clean house.
If you're long strong companies, you can ride it out. Rate cuts will do their job over time, and yes there's likely a real bottom ahead over fear which is way more powerful than greed. Ever notice how a strong stock can rally 5-10% in a day, but when the blood starts to flow it can lose that much in 5 minutes? My question is will there be recovery fast enough to give my Sept/Oct options time to shine :eek:
The chart has been right for 5 years. I'll take a 5 year trend over the yo-yo predictions on where the market is headed based on other forms of analysis. and btw, I didn't say IT MUST BE RIGHT. I said " I " as in me, will not be concerned until that trendline breaks. I don't give a rats ass what anyone else does.
Hello. I think the stock market is going to make new relevant lows in the next weeks/months. Technically the S&P500 is doing the SAME-EXACT pattern it did on November 2000 (see weekly chart). Even the value of the index is nearly the same! And macro picture is even worse than those "great" times. I expect a test of 1320/1330 support monday or tuesday, then a big rally from that level to 1370 again or even 1390 (false breakout of 1370 resistance) and then continues the way down. Of couse the market can do anything, and if FED/Bernanke says something important on Monday, (and/or oil go down sharply) maybe US markets can open at the same level or a bit lower than friday close, and start going up again. They can do it, but I doubt it. Lets see what happens...
What makes you think this will be different from your earlier call? The low on the S&P after your call was about 35pts lower, while the high was more than 70 pts higher, twice the downside (over a two-month timeframe). We are right about the same level as when your first call was made. Why do you think it will be different this time?