We need to fall further IMHO but back to back triple digit declines in the DOW can be done. Haven't seen it in a long time... So far futures down: YMU07.CBT Mini Dow Jones Indus.-$5 Sep 07 13,517.00 8:23pm ET Down 17.00 (0.13%) Chart We know China will be bad tonight to follow the US lead but a follow through tomorrow is doable.
Predictions?...................Thursday's low needs to be re-tested AND the market needs to settle higher on the day, atleast 100 points or more. Stay tuned.
Oh crap, GDP number tomorrow. I guess that will be good. 8:30am USD GDP Annualized q/q (p) High Impact Expected 3.2% 0.7% [Close Detail] Description Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of activity and the primary gauge of the economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. More importantly, the central bank is more likely to raise interest rates in the face of a strong and growing economy. The combination of these effects can have a large impact on the demand for the nation's currency.
Complete reversal YMU07.CBT Mini Dow Jones Indus.-$5 Sep 07 13,560.00 10:52pm ET Up 26.00 (0.19%) Chart Okay, time to go to bed. GDP number will be AWESOME!!!!!!!!!!! DOW futures will be up 80 by 8:30AM
china/taiwan has been buying since open. btw, great traders don't predict markets. they just trade what they see.. ... hahahahah just kidding. tired of seeing that bullshit on these forums.. i for one am impressed that we tested close enough to 1465 cash on S&P already. looks like nasdaq is going to lead the market the rest of the year, so its nowhere near previous support levels. considering 10yr/30yr yields are nice and low, i think this 'correction' will be corrected within 2 weeks and ES will be back to 1550.. thats a prediction from a bad trader.
By the way, buy buy buy STW (taiwan futures) with all 4 hands. i picked up tons of aug 370 calls, a few futures at 352.60 as well. looking for 375 price target within 1 week. this is the strongest market you aren't hearing about on CNBC. cheap, coming from the semiconductor rally, etc. etc.. and tracks china strength pretty well.
Take a look at S. Korea...absolutely on fire this year (especially the last month). Double the return of Taiwan....but you will never hear a peep about it on CNBC either. They're too busy trying to cheerlead a rally and count every DOW point until we reach 14,000 again.
wow. you're right. EWY is the etf... i'll take a look at the options. also very cheap on a valuation basis.
i think we stabalize, maybe bounce a little, and then go down for rest of august before we start going up again in late sept/oct. my 2 cents.