Well if it makes you feel any better I use a combination of indicators that when triggered tell me that there is at least another 5% decline. Today they were triggered. These indicators have only had 1 false alarm in the last 10 years. Now we may move a little up from here, and even get close to our previous highs, but you can almost take it to the bank that we will drop an absolute minimum of 5% from where we closed today.
Im looking at some indexes now, and one that shows real weakness is the russel 2000, down over 6.5% in only one week, thats pretty steep. I think the markets will show some strength, but will this strength be the time for the people who bought dow 12500 a chance to sell.
For what it's worth, my short-term (hours to days) indicators look somewhat bullish but my intermediate-term (weeks) indicators look bearish. So this may be in-line with some of the other posts above.
I do see some early buying coming in on Monday however who knows whats in store for the rest of the week...
I thought there were bunch of bad news like Dell and AMD missed estimates, sub prime loans go under, recession coming etc.
Awesome call? we are on the same level from the time when this thread was created. Some of you guys look like teenagers always cheerleading up or down without any thought.