Where is the market headed for 2003

Discussion in 'Technical Analysis' started by Minime, Dec 15, 2002.

  1. Minime


    After a breakdown to almost where this most recent rally began, do you Bulls still contend this market has life to the upside?
  2. cheeks


    I'm definitely a bear.

    That said, I fully expect to see one or more long"fake out" rallies before this Bear market has run its course.
  3. bobcathy1

    bobcathy1 Guest

    I think it will pretty much stagnate right here for a year or more. Channel trading is going to be my game plan.
  4. nkhoi


  5. Minime


    I have a feeling the government is going to try and prop the market up again somewhere in the 850 level on the S&P. After the last failure though, I would think institutions will be leery to go along and we should have another breakdown eventually to the 400-500 range over the next few years.

    We are a fat hog nation, maxed out on credit with the very real threat of a nuclear attack from terrorists looming over us. The only thing going for us is our ability to advance technologically. Less developed countries--mainly our enemies--our going to benefit from their cheap labor, stolen or purchased technologies, and improving infrastructures. They will be the net beneficiaries the next ten years as the world's wealth becomes more equally distributed among nations. With our expanding trade deficit and uncompetitive labor force, we are guaranteed to be on the losing side of the coming economic realignment.

    Now that our thrusters are on maximum power, and our economic ship is barely able to pull it's nose up, I think the painful correction phase our economy needs is becoming very probable over the next year. :confused:
  6. Cloaked Romulans on both sides. Shields up Mr. Sulu.

    Scotty, I need more power now.
  7. cheeks


    Let me guess. You don't think Lee Harvey Oswald acted alone?
  8. Minime


    No, Jacqueline had him assassinated due to his prolific affairs while they were married. She was actually wearing a bullet proof bra during the assassination.
  9. I suspect Lyndon Johnson arranged the whole thing
  10. no one knows where the market will end 2003. we do know that it will move lots of points between now and then and that is what we want as traders.
    #10     Dec 15, 2002