the dow will find its way to the 200 dma near 12.780. there is way too much uncertainty out there and the market is telling us the consumer will weaken considerably and i concede to that.forget about the last two pull backs,each is differemt .that said,the fears are actually coming to fruition this time unlike the prior times/ does everyone think that this is only a bear stearns problem and its basically over? if was over at least for bear,they would be buying back stock instead of telling the street they think its best to conserve capital. as traders we can make money in any market or at least we are supposed to. for me,i make my quicl hits near the open and then walk away.too many whip saws that can skae traders out during the day. what good are wider stops when they are triggered,you lose over a point on a stop? makes no sense. i like grabbing the fast profits early and then bailing. now is not the time to grind things out its too volitile. volitile is good but not when you get whipsawed. trust me,traders will chalk up high comissions that negate any gains/
Waiting for the DOW to break 13k. Thats when you will see a great deal of selling pressure. 12600 soon after...
Fundamentals/economics don't support a bull market. But this isn't a bear market either. Wait a couple months.
yikes look at the internals...a/d is negative! 30 something new highs and 600+ new lows. This is the definition of a deat cat bounce. Wow
There is no catalyst for the dow to lose another 1000 points. We all know the fed wont cut rates so the absence of any future rate cuts are priced in. The bear and subprime are contained.
agreed. the majority of the up volume is light, as well. How the market responds after fed day will be more meaningful.