Stimulus plan passes congress; Black Tuesday.

Discussion in 'Chit Chat' started by bond_trad3r, Feb 13, 2009.

  1. Congress just passed the stimulus plan. Markets are closed Monday. Therefore, this can only mean one thing: Black Tuesday.

    Markets will be down 6 to 8%, despite a valiant attempt by the PPT to keep stocks positive for awhile.
  2. Allen3


    I've kinda felt that way to, but many respectable people on here have been telling me a rally is in the cards. I guess we'll see, hopefully sooner rather than later. I just want it to break this range already.
  3. LeeD


    Good observation!

    Is anyone for a short on comical grounds?
  4. laddie


    We've been hearing about a big rally to take us over 9500 for a few months now. Still hasn't happened. From what I've seen on various boards, there are a lot of people who say that shorting at this level is insane, and that with all the govt intervention, a massive rally will occur really soon. That would indicate a drop under 7000 is coming really soon.
  5. I don't see the USA getting out from under this crushing debt in the next 100 years.
  6. Stosh


    We can just print our way out of it, but then people wouldn't loan the gov't any more, which IMO would be a good thing. Stosh
  7. Allen3


    Yeah. Maybe. There have to be some bulls throwing money into the system to make it worthwhile to sell out from under them. Maybe this sideways stuff is enough. I've always had a picture of the 1929- 32 chart that Port was showing around in my head for this drop. I don't think they had a lot of rally's to the 200 MA during that time.
  8. And that $50 Target giftcard you got for XMas will get you a 3-pack of underwear and a tube of cherry chapstick!
  9. cstfx


    Look to the overseas markets Sun/Mon to see where we are going before your begin to predict Tuesday's action. Don't automatically assume that this debt increase will prompt a steep sell-off when we resume trading on Tues.
  10. Can you repost that or provide a link? thanks
    #10     Feb 14, 2009