I am waiting for a pull back to see if we hold. Could be forming a inverse head and shoulders down here, but i think it is too early to bet on that. Overall i would not be a buyer here.
But with SKF and SRS the inverse ETFs falling from 300 to 120 this low does seem different than the other.
Precisely because of the great sales, that retail sector will drop down, just like the post-Thanksgiving week in 2006. The reason is because just like 2006, fund managers believe the discount is too steep, there is sales, a lot of sales, but they believe the sales are either break even or lost leader, as such, there is no profit from the sales. If you check some of the retail stocks just the week after the thanksgiving in 2006, it's stated in CNN. money.com that a lot of fund managers are selling. Further Dow has gained 1700 pt. already in the past 5 sessions, fund manager will use this week as reasons to sell
I will not respond to insults which is also what I did last Friday when you also made similar insults. Market action speaks for itself, but I will give you more. I am providing the trade reports. Profits are 36% in one week! Position is closed on Friday Nov. 28, 2008. Click Here to Read Trade Reports of the 36% in One Week Market Call. The call was made here on ET, and also on RFT's blog. Our friend DSQ opposed it vehemently, with insults to top it off and even after the facts proved the call to be at the bottom!
Dow 14,000 within 14 months is a very strong possibility given how shallow these metal recessions tend to be. this so called financial crisis is just like the one in 1998 in that it had no impact on the consumers. All this crisis and recession talk is nonsense because there is no actual visible evidence of crisis. Just buy now and do nothing for the next 14 months.
Here is a pic of 1930 Time Square. Looks all nice and dandy doesn't it? No evidence of a crisis visible, is there? The people walking in the picture had no idea what chaos and despair many of them would be in to over the next decade http://www.123posters.com/photo/pp0035.htm
Black Monday sale should be good. Tough time, every one tried to get the discounts, the week after Thanksgiving is the key. Looking Black Monday like judging retail by only looking at Walmart sale.
Well, nothing much to prevent a rally except --- tax loss selling, hedge fund redemptions, recession has just begun, big 3 autos may be wiped out, Q4 earnings warnings, unemployment rising, more and more bad news from Main Street... leadership vacuum in Washington...