StockFetcher Forums · General Discussion · Have we truly bottomed?<< 1 2 3 4 5 ... 10 >>Post Follow-up
nikoschopen
2,824 posts
msg #59112
Ignore nikoschopen
1/18/2008 12:19:44 PM

Any moment now, or so it seems. Even a full-fledged permabear like me is on the edge because you don't want to get caught in a vicious short squeeze. Moreover, we have the extended weekend ahead of us.

curmudgeon
103 posts
msg #59122
Ignore curmudgeon
1/18/2008 2:52:25 PM

Looking at 3 min SPY the only real upward pressure is pre and post market. 3 min TICK shows EVERY bit of strength being immediately sold. Always bad juju when that persists as it has.

I think it is different this time. There are structural and solvency problem in the banking system that we haven't had before. This is creating loads of uncertainty. Of course how long it takes to all play out is also an uncertainty.

Bottom? Certainly it's way past time for a bounce of some sort but it's been that way for some time now. Most likely any strength will be sold.

curmudgeon
103 posts
msg #59123
Ignore curmudgeon
1/18/2008 3:19:19 PM

Another domino falls...

http://bloomberg.com/apps/news?pid=20601087&sid=ahF6qwzvOki0&refer=home

karennma
6,386 posts
msg #59124
Ignore karennma
1/18/2008 4:10:30 PM

I'm going to take a "wild guess".
YES!!
We've bottomed for the time being ...
Considering we're in a bear market, "bottom", wouldn't be the right word ...
But I do anticipate a rally on Tuesday.
(Mon. is a holiday)


EWZuber
1,373 posts
msg #59126
Ignore EWZuber
1/18/2008 4:22:52 PM

The possibility for a bottom does exist here but it looks more like an oversold bounce is due with the Daily and Weekly Charts coming into phase alignment.

The COMP 30 MO.MA at 2385 could concievably provide a bottom for the Monthly Chart distributiopn phase.
The second Double Top pattern for the COMP formed from Nov.07 to Jan 08, has fulfilled it's bottom target of 2374.

nikoschopen
2,824 posts
msg #59129
Ignore nikoschopen
modified
1/18/2008 4:31:35 PM

As the chart amply illustrates, the descending trendline was hit marking the low of the day (and when this thread was created *wink wink*). However, the LOD held up throughout the trading session and was never once breached in the afternoon. While we may see a bounce for the time being, note that this is not THE bottom. On the contrary, the bear market has just begun.

$SPX 30-minute

karennma
6,386 posts
msg #59131
Ignore karennma
1/18/2008 6:31:38 PM

Niko:
I'm using different indicators which correspond to your "timing"....
Mine say the "bottom" was hit at 11:59 AM today.
Exactly!!



karennma
6,386 posts
msg #59140
Ignore karennma
1/19/2008 9:36:34 AM

after combing thru numerous charts, I would say unequivocally say .....
Tuesday is RALLY TIME!
$$$$$$$



nikoschopen
2,824 posts
msg #59144
Ignore nikoschopen
1/19/2008 3:11:59 PM

We just might retest 1375 for $SPX, which is only about 50-point pop. That's no small jump, however, considering that a 10-point range on $SPX is equivalent to a 100-point range on the DOW. OMG, that's 500 points!

Also don't forget about the Bernanke factor. Even in the most bearish times, the market can and does act "irrationally exuberant".

There was a gloomy soundbite pitched by Pete Najarian on Fast Money that since LEAPs and January options are no longer with us, there will be a large put buying come next Tuesday that will drive down stock prices.

karennma
6,386 posts
msg #59146
Ignore karennma
1/19/2008 4:20:51 PM

nikoschopen
nikoschopen 1/19/2008 3:11:59 PM
There was a gloomy soundbite pitched by Pete Najarian on Fast Money that since LEAPs and January options are no longer with us, there will be a large put buying come next Tuesday that will drive down stock prices.
=====================================================

Good!
And all the little lemmings will be fooled again!

http://www.youtube.com/watch?v=eKgPY1adc0A










StockFetcher Forums · General Discussion · Have we truly bottomed?<< 1 2 3 4 5 ... 10 >>Post Follow-up

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