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Goldman upgraded the group last Thursday based on several factors. And with Hurricane Dean making its way towards the Gulf this could be a HUGE play. Best of breed: DO, NOV, and BHI

The first leg down off the highs was 128 points. If this second leg down EQUALS the first, it would target 1375. (1503-128= 1375) A .618% fib of the first leg down (128) would = 79 handles and target: 1424

"Riders on The Storm . . ." DEAN!!! http://www.nhc.noaa.gov/refresh/graphics_at4+shtml/204525.shtml?5day#contents :eek:

You started your thread nearly 20 POINTS AFTER THE SPX had already Topped!!! What is it about "after the fact" that you are unable to understand? You obviously have a great deal of difficulty with English Reading & Comprehension. May I suggest an ESL course? Do they offer that at...

Thank You. :)

Can't you see that no one cares about your idiotic "chest-thumping" and "attention-seeking" thread of AFTER THE FACT market calls? Of the last 12 posts, NINE of them are from you! :D Once again we find you talking to yourself. Yet another symptom of your psychosis. What a loser.

You are such a "nut-case". Does your Mommy know you play on the Internet while she is away at work during the day? As for predictions BEFORE THE FACT, I targeted 1559.09 as the SPX High for this recent top on JULY 9th: http://www.elitetrader.com/vb/showthread.php?s=&threadid=98553 The...

For what it's worth . . . the two funds at Bear that got closed down were running off of 10 and 30 times respectively. Is there any INTELLIGENT LIFE on ET anymore these days??? :(

You are so way off from reality that it's pretty much a waste of time to even reply. Subprime assets at $20 trillion? Get real.

Agreed. GDP will see 4% PLUS growth for Q2.

Well said. 100% Agreed. The FED conducts OPEN MARKET operations just about every day. This time, they were simply more aggressive. You need to take a class in Econ. 101A. Educate yourself on the FOMC and open-market operations.

But let's remember that they are 3 day repos. Not permanent by any means. This is why people like Wayne Angell are pushing for a .25 to .50 point rate decrease.

3 day temporary repo injection. Fed Funds now down from 5.25 to 5.00 so the FED probably over did it a bit.

Hang on . . . He has to check with CNBC first. :D

Agreed.

Oh, so now our big bad conservative Republican and resident ET Bush supporter from the midwest has now become a Socialist??? :D

The sector is up again today . . . GD: +2.75 LLL: +1.00 LMT: +1.50 NOC: +.60 RTN: +.00

:D

I nominate this as the Post of The Year! :p

1503 was a fib retracement number. The rally terminated there and then the market resumed its decline. The first leg down was 128 points. Subtract 128 from 1503 and you get 1375 Take a .618 fib ratio of 128 and you get 79 points. 1503 - 79 = 1424 Two possible targets on the...