Agreed. Unfortunately here on ET there are a TON of threads and people that simply make "blah, blah, blah," predictions without any sort of methodology whatsoever. For example, one could very well make a technical case that the simple .618% retracement of the recent rally up from the late June lows comes thru at 1503 and that the market will try and hold 1503 SPX and make a low in the next day or two which will then take the SPX back up to the 1534 area. The original poster states that he doesn't see any reason for the market NOT to trade immediately down to the 1490 area. Yet those technicians that have used a common fib ratio would beg to differ. Unfortunately, there don't seem to be many technicians on ET or people that are willing to make an effort to substantiate their prediction with some sort of methodology. Just a lot of people looking for the end of the world and blowing a lot of hot "air", rationalizing why they have been losing money, having a crappy year, and being short during a tremendous uptrend. It's either the latter, or simply making grandiose predictions with no specific methodology whatsoever. Typical of the kind of traffic on ET in the past year or two.
As far as I've seen demonstrated, you are no more accurate than any of those who have randomly inferred something is likely to happen. Even with your "supporting" statements you are incorrect most of the time and just disappear temporarily when things don't go as you predict. Have any more stupid comments about what the market will do before you disappear as usual?
No one knows what's going to happen today. I do know one things, there's going to be some crazy volatility. Let's go make some $$$! GL & GT to all!
Green all day, should close up 50+ today. The bulls will not make a 148 point decline ruin it for the rest of the week. Would be nice though to see 2 days of triple digit declines.
I think you're a bit premature in making a prediction, although you like to predict. Buying looks weak at the open, could lead to a bigger selloff if one starts. For the record I think it will.
I tend to agree. I've been long the cable since Sun evening and damn is the USD taking a beating. The Yen whooped it like a red-headed stepchild yesterday. All the other pairs are bouncing up, all except the dollar. I thought for sure yesterday after Bernanke's meaningless yapping that markets would lift off, boy was I wrong. I think that Bernanke sent the Bulls to the bar early with his blatant bull$hit of a speech. I think we might find that yesterday was the starting point of something big. I hope I'm wrong.
All the stupid fucks who honestly thought the economy wouldn't be affected by the downturn in housing were morons. Although, with the likes of stock_turder in their camp, it was surely the retarded camp. These MBSs and CDOs are coming back with a vengeance and ARMs aren't even resetting heavily yet. There is more pain to come for sure. Subprime is only a small part of the problem in my opinion.