What are you projections for DOW by next Friday (10/10/2008) and WHY? What are you projections for S&P by next Friday (10/10/2008) and WHY?
It should get interesting when the Boomers panic sell their 401K's and Pensions liquidate at the bottom. Talking to my folks and their friends - most of them are still indexed or long whatever fund their in. Feeling the pain. General Public hasn't thrown in the towel yet, so bottom is definitely not in....
IMHO, the INDU is heading for 9000. The bail out was a non-event as the market's short term reaction showed today. We will see violent Rally's as Bear Markets never just go straight down. I would short every rally as you should have faded the open and legged in short today. Confidence is no longer. Regardless of what goes on. This is the First leg down of a Ursa Major. This will be one of the deepest Bear Markets in the History of the US for "Wall Street".
All the old ETers are getting very bearish, looks like its time to BUY BUY BUY! Wonder what Jim Cramer said today? Hopefully he was very bearish to satisfy my new bullish case.
chop trading range until further notice SPX next friday @ 4PM +-20 pts from where we are now why?for me to know and you to find out
You obviosly trade without putting any thought in what you do. How can you be bullish with a record TED spread and a frozen CP market? With increasing costs of credit which seem to happen quicker than you can blink you cannot trust the numbers on those balance sheets.