Huge rally on Friday?

Discussion in 'Trading' started by stock_trad3r, Dec 25, 2008.

  1. [​IMG]

the tim geitner gains of November 21st and 24th have held. The dow bottomed a 7,400 and is still 1000 points higher. Also look at the huge volume on the 21st and 20th. That is an irrefutable bottom. Buy tech.
  2. Support line is penetrated. Need to get back above the red line ( attached photo ) to survive. Otherwise we are heading to test the low.
    My special number is ES/740. If we break it successfully. it will slide down faster
  3. pupu


    dow 20,000 by EOY!
  4. ggoyal


    why predict?
  5. the potential downside is only 300 points at most. So much support in 8000-8200 range.

All negative news priced in.
  6. I don't see the chart that way. It looks like marginal downside movement.

  7. On another positive note oil is surging:

Oil	35.99	0.64	1.81

Up 2%..not bad

Nikkei 225	8,703.63 8:21PM ET	Up 104.13 (1.21%

We could see a large rally in Hong Kong and Europe as well. 

Keep in mind that the market looks very, vary far ahead. That big selloff between october 3rd-10th was the pricing in process of three months of bad econ news. 
Now we'll see a huge rally as funds price in an economic recover in mid 2009. 

But the economy doesn't really have to recover because this recession has been so shallow when you look a the numbers. There is so much value and PE ratios are so low. 

 There is no compelling reason for the market to be this low.
  8. Nope, no rally. Your chart shows the dow not being able to get over its previous high. Now its time to dump, time to short.

    Stop drinking the Kool-aid, we have not hit that crescendo bottom when you will finally say...

  9. S2007S


    GMAC just became a bank (another fu$king joke) to tap into more FREE money, this should help the Dow soar.....

    :p :p :p
  10. The entire system is on the verge of collapse. Credit is dead.
    #10     Dec 25, 2008