StockFetcher Forums · General Discussion · Bear market ???<< 1 2 3 4 5 ... 7 >>Post Follow-up
johnpaulca
10,088 posts
msg #58796
Ignore johnpaulca
1/7/2008 4:00:55 PM

Just back from vacation...happy Holidays to everyone.

First, I got stopped out of every stock except for my shorts which helped cushioned the blow.
Was doing some reading this morning and the "Gurus" are already talking beginning of a Bear market. I leave for a week and now we are in a bear market...WTF.

luc1grunt
622 posts
msg #58810
Ignore luc1grunt
1/7/2008 7:40:10 PM

Wait till the first big bounce and CNBC will be cheerleading "the correction's over....14,500 here we come". Rah, rah!

nikoschopen
2,824 posts
msg #58812
Ignore nikoschopen
1/7/2008 8:17:24 PM

It ain't just another freaking coincidence if you ask me. We broke below the major trendline that dates back to the start of the 2003 bull market. This is serious biz.

S&P500 5-Year Weekly


maxreturn
745 posts
msg #58814
Ignore maxreturn
1/7/2008 8:56:19 PM

Serious support levels around 1375 for the SPX. If those levels are broken and price starts finding resistance on rallies to a declining ema(200) then we're in a LT bear market.

curmudgeon
103 posts
msg #58815
Ignore curmudgeon
1/7/2008 9:28:38 PM

Pretty much all the economists blogs I read are now talking how bad...not if we are in a recession. Commercial real estate, consumer/credit cards and auto loans delinquencies are rising. I guess Doug Kass gets it right at least once a decade.

What is different this time is the solvency of the banking system is in doubt. The derivative WMD's may be about to drop a black swan on us.

Privatize the profits, socialize the risk. MF's need to be executed.

fokane
74 posts
msg #58855
Ignore fokane
1/9/2008 4:26:39 PM

Seen a lot of good opportunities today but cant pull the trigger. Just dont know what this market is doing!!!

johnpaulca
10,088 posts
msg #58856
Ignore johnpaulca
1/9/2008 4:38:55 PM

Fokane...don't be fooled by this afternoon action...bears still control this market i.e Niko....sorry for the dig Niko...lol

nikoschopen
2,824 posts
msg #58857
Ignore nikoschopen
1/9/2008 4:51:01 PM

Well. well. LOL

If I may chime in my otherwise worthless 2-cents, the market will most likely retest the trendline that was broken 3 days ago (the red line in the chart above). That's when you'll want to load up and go short. For the time being, I urge patience.

If ure even remotely affiliated with anyone named "Mary2Poorhouse", discard what I said and instead shoot ureself in the head.

nikoschopen
2,824 posts
msg #58886
Ignore nikoschopen
1/10/2008 2:48:33 PM

No need to thank me for saving ure hide from this short-covering rally. lol

Happy trading!

EWZuber
1,373 posts
msg #58890
Ignore EWZuber
modified
1/10/2008 4:44:51 PM

nikoschopen, Looks like SPX closed dead on that trendline today.
I agree, this is just a temporary oversold bounce. Weekly Charts do not appear to be done with this distribution phase.
I suspect index Daily Charts will test resiatance around their 10 DMA's and confirm them as resistance.

StockFetcher Forums · General Discussion · Bear market ???<< 1 2 3 4 5 ... 7 >>Post Follow-up

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