Will the low from Friday 10/10 hold?

Obviously we're heading towards retesting the low. The question is, will it hold? Or will we go lower?

 

It should. Economically things just aren't as bad as they seem, or atleast as portrayed by the media.

 

Allow me. The overwhelming consensus is that you "should" go away. The fact that you don't is an indication that you and markets don't always act the way they "should".

Hmm...that felt good.

 

2-4. Friday's option expiration would be a good time to "test" it. We'll see.

 

Now that he said it would, odds are it won't.

 

PLEASE do not feed the pigeons. They are carriers of worthless threads and senseless predictions, and pose a risk of uncritical thinking to the rest of us.

 

The intraday lows on S&P and Dow will not hold.

There is just too much uncertainty out there regarding whether the bailout packages actually will work (for both the economy & markets). Many co (financials) will struggle to survive as this recession will be brutal and lengthy. I can practically guarantee you builders will fail. GM and Ford are teetering and consumer spending is dead. Unemployment is going to escalate. Hedge Funds will collapse. The economy is f#ck-ed.

The bottom is months away and much lower. More to come....

 

Back in the spring 2003 people thought the markets would make new lows. This was just weeks before the Iraq war. There were many notable prognosticators that were predicting spooz 500 and such.

 

I will shit my pants if the Dow does not eventually test 7500; that's how strongly I feel about it. I rarely feel that strongly about something. And I might be a buyer at 7500 (though not an unpatriotic short seller now).

 

buy with both hands tomorrow when mom-and-pop MOO sell orders hit the street.