Not looking good at all, if Europe opens down 2% the US markets will open down over 1% and once the S&P breaks 1120 straight down its going, DO NOT be surprised when the S&P is sitting under 1000, its coming sooner than later, once global economies feel the slowdown coming from China and chance of a rebound will be long, long, long gone so get ready for a big drop in the markets once support is broken, after 1120 the next support level is around 1040-1050 if that breaks then just sit back for 1000 to break, who knows what happens after that. FUTURES *S&P FUT 1116.09 -9.90 -0.87% *DOW FUT 10760.00 -81.00 -0.74% *NAS FUT 2113.75 -20.75 -0.97% MAJOR ASIA INDICES *NIKKEI 8497.40 -202.89 -2.33% *HSI 16722.46 -869.95 -4.95%
warren buffet has no view of the market short term. buys & holds for years. not much help to daytraders. market is going to selloff when the bears take over you will feel the fear. what's another 60 - 100 point drop on the spx .. better yet. market trends lower to the flash crash lows from last year. let their be blood in the streets . way overdue.
Yep, right now the s&p fut is chewing thru the support established 9/23-9/26. It's going to break and we are heading to 1000. There may have been hope for some support here if all we had to worry about was Europe and Greece, but the news out of China is the final straw.
I saw him talking on cnbc again!!! He kept babbling about how there was no recession coming and that he was buying stocks, blah, blah, blah, blah.....the guy is always positive and upbeat, I guess if you are a billionaire you would feel the same way Anyway what he is saying is pretty much worthless...were in the same recession as we have been in for the last 3-4 years. Support is going to break, as I said do not be surprised to see the SPX drop 100+ points once this happens. There will still be plenty of huge one day rallies making you believe the worst is behind, but thats a trick to lower lows. As for tomorrow, the worst thing you can do is go into the open and short, if anything I will add very small long positions, I have shorts in place to help from any huge drops like Friday. As for the futures, they continue to get worse: FUTURES *S&P FUT 1114.09 -11.90 -1.05% *DOW FUT 10734.00 -107.00 -0.98% *NAS FUT 2106.25 -28.25 -1.32%
Not taking anything away from Buffet but he should not be on CNBC saying no recession etc.... Easy to add to your positions when you have a bottomless pit of money. Easy to talk about taxing the rich when it will not affect you in the least bit. Here's an idea Warren: there is no law writing a check to the government above and beyond what you owe them. Set and example if you are that convinced it will help us. Btw, he should stick to what he knows instead of trying to be a politician. Agree with you, we are one step closer to falling hard. It will be healthy for the market when it happens. We can then actually establish a real base to build from.
SPX just broke 1120, now lets see where the close is this afternoon, this is going to be crucial for the markets......I would be getting ready to buy after the drop below 1100, but just for a bounce and nothing more, do not think for a second that once the market sells off and goes into a bear market that the worse is behind, it will just be the beginning. This market cannot and will not break to new highs, there is no catalyst at all to support this market and move it towards 1250, 1300 or even 1400+.
Brian Belski has a year end price target of 1325, that should get all you bulls excited to buy this next dip and hope for a 200+ point rally in the SPX between now and the end of 2011! He is a "CHIEF INVESTMENT STRATEGIST" at oppenheimer & co, so whatever he says should happen, right? HAHAHA, FOOLS! Keep em coming cnbc, keep the positive interviews coming.... SPX is headed below 1050 and then 1000! <object id="cnbcplayer" height="380" width="400" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0" > <param name="type" value="application/x-shockwave-flash"/> <param name="allowfullscreen" value="true"/> <param name="allowscriptaccess" value="always"/> <param name="quality" value="best"/> <param name="scale" value="noscale" /> <param name="wmode" value="transparent"/> <param name="bgcolor" value="#000000"/> <param name="salign" value="lt"/> <param name="flashVars" value="startTime=000"/> <param name="flashVars" value="endTime=000"/> <param name="movie" value="http://plus.cnbc.com/rssvideosearch/action/player/id/3000048734/code/cnbcplayershare" /> <embed name="cnbcplayer" PLUGINSPAGE="http://www.macromedia.com/go/getflashplayer" allowfullscreen="true" allowscriptaccess="always" bgcolor="#000000" height="380" width="400" quality="best" wmode="transparent" scale="noscale" salign="lt" src="http://plus.cnbc.com/rssvideosearch/action/player/id/3000048734/code/cnbcplayershare" type="application/x-shockwave-flash" /></object>
Get ready to buy when the SPX gets under 1050 for a bounce, this is going to be a nasty volatile ride!!!!!! SPX at 1114!!!! Wait till it breaks that nice 1100 number!