nikoschopen
2,824 posts
msg #60452
- Ignore nikoschopen |
3/13/2008 11:05:08 AM
Like they say, ya can only get fooled once. So it appears from the last two day that have wiped out just about all of the Monday's monster rally. And you can't blamed them traders either. That's what happens to yo brain when ure burnt once and twice shy.
|
nikoschopen
2,824 posts
msg #60643
- Ignore nikoschopen |
3/19/2008 12:54:23 PM
So I hear from all corners that we have truly bottomed. Although I would like to stick my head where sun don't shine and believe that we have finally turned the corner, I don't think this is the bottom. This market currently has a super erection thanks in no small part by Bernanke's personally formulated viagra. But as we all know, viagra can last only so long. Uncle Ben will then try to save our economy with zero percent financing but will taxpayers bite? Who in their right mind will loan their hard earned cash at 0%, provided that they even have the money to loan? Next time, Uncle Ben and his cronies will need to prescribe a big dose of Prozac.
|
maxreturn
745 posts
msg #60644
- Ignore maxreturn |
3/19/2008 1:01:31 PM
On a short term basis. Yes. But all you have to do is look at the weekly and monthly charts to realize the longer term direction points down. Looking to short again when SPX starts bumping up against key resistance and/or it's 50 and 200 day ema's. This was a very successful strategy in late 2000 when the 200 ema rolled over in earnest. For the market to bottom on a long term basis there is a lot of resistance to overcome.
|
mb504
29 posts
msg #60647
- Ignore mb504 |
3/19/2008 1:07:17 PM
niko,
checkout the Elliot Wave Thread. see post from mb504..
There are targets and confirmations based on the E Wave Theory...
FYI, Only if the DOW closes above 12724 would signal that the Correction is over... A close below 11634 indicates more pain ahead (if ur long)...
|
petrolpeter
439 posts
msg #60663
- Ignore petrolpeter |
3/19/2008 2:07:36 PM
I feel the perilous sucking of the black hole de-atomizing the market again.They ought to cast Bernanke in a Twilight Zone movieLOL.
|
nikoschopen
2,824 posts
msg #60664
- Ignore nikoschopen |
3/19/2008 2:08:46 PM
max, I'm with ya.
mb, thanks for the invite. But EW is, frankly, beyond my comprehension.
|
nikoschopen
2,824 posts
msg #60673
- Ignore nikoschopen |
3/19/2008 4:00:12 PM
I feel the perilous sucking of the black hole de-atomizing the market again.They ought to cast Bernanke in a Twilight Zone movieLOL.
Yeah, he'll undoubtedly inspire a whole new generation of one-man tragicomedy. I wonder whether it would have been better to just buy the whole damn financial sector rather than opening the discount window to the brokerage houses and bailing out idiots like Bear Stearns.
|
zeezeetop
30 posts
msg #60682
- Ignore zeezeetop |
3/19/2008 7:41:44 PM
Let's be reminded that idiots with a plan will beat a genius without a plan. Case in point. GS and LEH report numbers that beat the street estimates. Yahoo! Here comes the rally. Today, who shows up at the discount window asking for cheap money. GS and LEH were probably selling yesterday near the close. Idiots with a plan.
Then there's the Fed, hurry up and open the discount window before we really figure out what's going on. Then shoot one of the last rounds of ammunition we have to see where it will land. Geniuses without a plan.
Did any one conclude that a 50 point cut or less would have firmed up the dollar, reduced commodity prices and aided the economy?
|
nikoschopen
2,824 posts
msg #60685
- Ignore nikoschopen |
3/19/2008 9:11:28 PM
Speaking of GS & LEH, did anyone truly believed in what they reported? Didn't BSC said they were on sound footing just days prior to tripping to $2? Is anyone still tripping on acid?
|
mb504
29 posts
msg #60690
- Ignore mb504 |
3/20/2008 12:38:52 PM
In my "humble" opinion there is NO WAY! that we have bottomed. After this Opt Exp, I would say that we will sink on an "extended" way down, even longer than the last drop.
The DOW & NASD tanking in Jan-1973 after the last fuel crisis is pretty convincing to me. And other "major" nightmares are added to this "very risky" scenario... Agreed on the BS about how wonderful the Fed is doing. Usually when the Fed acts (on anything), the cost follows.
However, I don't quite know what will be the straw that will break the camels back... Watch it be something that no one expected....
|