HISTORYMarch 17: "Reversal" Starts: DOW/SP double bottom-Oil/Gold/Euro 'bubble' burst

HedgefundTrader2 · Mar 22, 2008

Quote from Uncle_Ho:

hedgefundtrader, i will never understand your crowd. Why do you persist to be extremely optimistic no matter what facts are presented before you. There is a reason we broke so much off of our highs. There is a reason the housing markets collapsed off the highs. I am not a pessimest by any means, but if do not want to short, and your options are "buy, or don't buy". Right now would be one of the times to be patient, and not buy. We don't need to buy it right on the bottom. Let the market make a bottom, change the trend, then follow it. If you have an oppurtunity to enter the market whenever you want, with as much capital as you want, wouldn't you want to enter when the odds are stacked in your favor. All I'm saying is wait till the market proves itself. Then you can go back to being a permabull .
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Thats what I am hoping for. I am trading light. Let the markets get in full rally, than we will take off the brakes.

tetuan01 · Mar 22, 2008

Oil and Gold will end 2008 over $1,000 and $110 respectively.

increasenow · Mar 22, 2008

thanks for the great replies...interesting reading today...although
Wall Street Journal had an article saying "beware on the double bottom"...as noted, Deustche Bank said commodities going down in April as did article on www.INO.com ...heres the deal...will be more massive hedge fund selling off in commodities this week and for the upcoming weeks which also send the retail commodity investor into panic sell off mode...prices of Gold will much lower, Oil will be much lower, Euro will sell off...10YR will sold off and the DOW/SP will be in total rebound mode coming through earnings and next FEd mtg with NO rate cut...thus signally US economy 'stabilizing' as they say...I honestly believe...we have seen the TOPS for Gold, Oil, Euro...market will head higher..ALSO...THE DOW JUST CLOSED OVER ITS 50 DAY MOVING AVERAGE...THIS IS A HUGE BULLISH INDICATOR FOR THE DOW...!!!....
**COMEX Gold $1,033.00 on March 16th...NEVER to be seen again!
**NYMEX Crude Oil $111.80 on March 17th...NEVER to be seen again!
**CME Globex Euro 1.5820 on March 17th...NEVER to be seen again!
**Dollar Index 70.69 on March 17th...NEVER to be seen again!
**CME Globex 10 Year Note 120.01 on March 17th...NEVER to be seen again!
**DOW 11,000 to NEVER be seen again!
**SP 500 1,200 to NEVER be seen again!
...I welcome any expert to prove this wrong...the BUBBLE has burst...for Gold, Oil, Euro, 10 Year Note...

increasenow · Mar 22, 2008

NASDAQ had an all-time closing high of 5,048.62 on Friday March 10th, 2000 and then...the TECH BUBBLE burst!!

...remember March 17th...the day the Gold, Oil, Euro, 10 Year Note Future bubble BURST!!!!!!!...remember March 17th!!!!

powerfade · Mar 23, 2008

Quote from HedgefundTrader2:

I chose not to respond.

Please refrain from personal attacks. I will not hesitate to deliver your post to the moderators of this forum.
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Hello

Why did you stop posting under the username day7793?

Thank you

HedgefundTrader2 · Mar 23, 2008

Quote from increasenow:

NASDAQ had an all-time closing high of 5,048.62 on Friday March 10th, 2000 and then...the TECH BUBBLE burst!!

...remember March 17th...the day the Gold, Oil, Euro, 10 Year Note Future bubble BURST!!!!!!!...remember March 17th!!!!
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This is year 2008 and not 2000. Times have changed, NASDAQ is at 2200 levels it has already tanked 18 % from highs. Not much downside left and there is no Tech bubble. You can't keep going back to painful memories again and again. Read a Bible or something.

increasenow · Mar 24, 2008

Quote from increasenow:

thanks for the great replies...interesting reading today...although
Wall Street Journal had an article saying "beware on the double bottom"...as noted, Deustche Bank said commodities going down in April as did article on www.INO.com ...heres the deal...will be more massive hedge fund selling off in commodities this week and for the upcoming weeks which also send the retail commodity investor into panic sell off mode...prices of Gold will much lower, Oil will be much lower, Euro will sell off...10YR will sold off and the DOW/SP will be in total rebound mode coming through earnings and next FEd mtg with NO rate cut...thus signally US economy 'stabilizing' as they say...I honestly believe...we have seen the TOPS for Gold, Oil, Euro...market will head higher..ALSO...THE DOW JUST CLOSED OVER ITS 50 DAY MOVING AVERAGE...THIS IS A HUGE BULLISH INDICATOR FOR THE DOW...!!!....
**COMEX Gold $1,033.00 on March 16th...NEVER to be seen again!
**NYMEX Crude Oil $111.80 on March 17th...NEVER to be seen again!
**CME Globex Euro 1.5820 on March 17th...NEVER to be seen again!
**Dollar Index 70.69 on March 17th...NEVER to be seen again!
**CME Globex 10 Year Note 120.01 on March 17th...NEVER to be seen again!
**DOW 11,000 to NEVER be seen again!
**SP 500 1,200 to NEVER be seen again!
...I welcome any expert to prove this wrong...the BUBBLE has burst...for Gold, Oil, Euro, 10 Year Note...
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March 24...this post continues to be confirmed...anyone think I should issue a market commentary post daily...please let me know...thanks!

S2007S · Mar 24, 2008

Quote from PAPA ROACH:

1. The consumer, who makes up 70% of GDP is still underwater, regardless of credit markets starting to work again

2. Lending will never be what it was in the "Free money for all" liar loans era

3. Unemployment will continue to rise for awhile, (see #1)

4. Inflation is still hurting the consumer like a big tax hike. A correction in the commodity bull, or the end of the commodity bull will not show up in lower prices on the majority of things for a long time, (see #1)

5. The level of drunken consumerism experienced over the last 5 years will not be seen again for at least a decade.

6. No drunken consumerism, no more record earnings. The debts created have not been wiped away, only redistibuted for now.

7. And for the most important piece, stock trad3r has returned to the board with his perma-bull rantings, always a bad sign for further economic problems.

I for one won't argue a corrective rally that may even trend for several weeks, however, the parameters that created the last bull are broken. If you're looking for a resumption of the bull with new highs, you need to rethink the underlying fundamentals. We are in a sideways, rangebound market for a long time AT BEST.
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100% agree, many wont though, they actually think the bull market and goldilocks are walking hand in hand down wallstreet right now, total joke, there is nothing that can support a bull market at this time....

increasenow · Mar 30, 2008

continues to prove true...also...read this... http://biz.yahoo.com/ap/080330/wall_street_week_ahead.html