It's OVER

panic buying is stronger than panic selling

 

You are an idiot...
and I'm rolling today...

 

I think its from a John Mauldin perma-bear gold bug presentation. However, I would like to know how he got $46 as well (mauldin) or gnome

 

SP 500 return to support that was broken last week on large volume.

That is what we have right now.

 

I think Goldman has S&P earnings down 33% year over year.

 

Getting back to this issue, I believe that 2007 operating earnings for the S&P was $82.50

A 33% decline gets you down to $55.00

 

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Agree with much of that.Maria;
more here.
QQQQ went dwn lot more than 50% ,sure it bounced there ,then;
total 80+% peak to valley downtrend.

a]Much more concentrated / fragile fuel & food systems, than '29.
b]Now Israel & USA ememies have & more almost have nukes.
c]And sucide bombers were limited to Japan , generally;lots more now

Actually monthly /last month high retests are quite common in bear markets ;
its a wonder we havent seem more.May see one in DEC

Murray:

 

Good thread title.

Wrong conclusion.

I'll wring every last penny from the rally, but after Christmas, you'll be able to cut the gloom with a knife.

 

Well, so far it looks right...and bear in mind, I'm only calling for a bear market rally in stocks...it's what we are getting (5 straight up days since the post)...
Look to the USD for direction - stronger and stocks fall along with the rest of the energy/metals/grains complexes...
if it breaks down (as the charts suggest it might) then we continue rallying in stocks (target for Spoo is 945ish and then 1007...and perhaps a probe up to the 1050 area)...