I would say getting long for a bounce is your best chance now, however a break below 600 on the s&p and who knows where these markets are heading, I figure if you go long and everything continues to fall apart there will be nothing left, no economy, no consumer, nothing, so figure if you go long and everything completely falls apart there will be probably no reason to worry about money anymore because the economy will be totally worthless. Think about it.
ET Contrarian Indicator Alert! 669 ES equals .618 of first leg down from 779.50 to 688.75 That is the first target. 635 is a 1:1 measured-move. :eek:
I agree if the markets fall too much more the people will lose control in a mass exit of historic proportions leaving nothing left. I have a feeling Obama is going to tell geitner buy 1 million sp minis at the market and tell those fuckers in the pit Ill take 200,000 large ones.
know what that means in a crash? nothing i'm not predicting a crash - i'm saying we are in one. even if it ends today, and this marks the bottom, it was a crash
this is the first time since the bear market began last year that there are 4 consecutive weeks of substantial declines in a row. for instance, in october and january we had just 3 followed by a relief weekly positive bar. from a statistical perspective, the chances of having a positive week by next week are 1-(1-.51)^5 = 97,17%
Nope. There is no support until around 600. I have said 650 in the past, but now I am lead to believe that 600-625 area is where it lies and its straight down from here. Lets hope I am right because I would really hate to see what our world looks like at 400. Mass homeless, mass unemployment, civil unrest.