Time To Buy (at least for short-term)

Discussion in 'Trading' started by cszulc, Oct 6, 2008.

  1. cszulc


    Looking for rally from here.


    1) Trend line from 1994 showing perfect support at close at the level of 9950 area. Catches trend from '94 through '02/'03 and now.

    2) VIX level 55+ unwarranted and higher than '98 through '02

    3) Fed will probably come out and calm markets with rate cut (yes I know they haven't worked in the past; but will be good for short term rally)

    4) Jim Cramer threw in the towel and is telling his viewers to SELL! If that is not a good buy signal, I don't know what is!!!

    REMEMBER this call is for 1-3 months that we won't revisit or break through 9000 in DJIA. Long term who knows?
  2. Tums


    try your chart with log scale...
  3. Jbonds


    Here's that chart on log scale for everyone. Personally, I think TA is out the door on the Dow until the Fed Figures out what they are going to spend the 700 bil on exactly... hopefully not bubble gum.
  4. 7800 next stop?