Welcome back blue. You have been replaced as the worst prognosticator by MichaelScott. That is, if you are not Michael Scott.
you guys are too funny...lol...........but we are taking out major technical points, and with the futures where they are right now, when we take out the next leg tomorrow, computer sell programs automatically kick in, sell stops get hit, reinforcing more damage, and now it is even fashionable for short sellers to jump in, the real question is will the damage be strong enough to kick in the curbs, as they have been implemented 2 times in the last week, or we literally could have had a 1000 point dow drop in one day at these levels of 14,000 with no curb initiation as EVERYBODY wanted to exit at the same time at 14,000 when the shit hit the fan.............just use tight stops when buying these dips my friends
Even though futures are down tonight I don't think tomorrow will be strong in either direction. Maybe drastic intraday moves, but when the day is over not much change. Then again, my predictions suck so please disregard this post.
why dont you just ask eqtrader how dip buying has been working lately.......his most recent photo is below. http://www.prostunts.net/Image Captures/Hanging Man.jpg
In his defense, he did say the top was in several weeks ago. He missed the absolute top to date but wasn't far off. If he heeded his own advice he is sipping drinks on a beach somewhere.
"the real question is will the damage be strong enough to kick in the curbs, as they have been implemented 2 times in the last week" sure about that?
well if the yen carry trade gets forced liquidation, look out below as we will take out 1390 s&p and all bets are off, as oil is about to do its yearly fall sell-off, and that`s the only thing holding up the market right now, the energy sector, and everybody knows its got about 25-30 of pure speculation, the oil storage is above the 5 -year average, if no major hurricanes hit refineries in the gulf, this has a lot more room to go down, think about how many points exxon-mobil contributed from the dow moving up from 12,000 to 14,000, remember oil was 52 a barrel in january, (it`s not like anything fundamentally changed growth wise----just hedge funds/etc. got out and back in again looking for a sector to ride) there is A LOT of speculation in the oil markets, and exxon-mobil will sell off with the seasonal sell-off of oil back to the low 60`s