Guaranteed Green Close tommorrow. Initially sell off tommorrow morning, but it will turn green very soon.
12,500 was strong support
- Thread starter Warrior4g
- Start date
Guaranteed Green Close tommorrow. Initially sell off tommorrow morning, but it will turn green very soon.
looks like a head and shoulders setting up, if it breaks 12500 and closes under it we could go to 11900 come back to test 12500 and dump to 10800, 14200- 12500(support tested 3 times now) is 1700 points 12500 - 1700 is 10800 theres good support down there even 10600
11600 has some support and thats the same leg lenght as from 13500 to 12500, 1000 points
I think we break and test all those levels
11600 has some support and thats the same leg lenght as from 13500 to 12500, 1000 points
I think we break and test all those levels
I think thats a bit's crazy to the downside but a possibility nontheless. Would take an unforseeable disaster besides a shit economy to really plunge that far. Throw in a market halt on a bad situation... Maybe a small nuke going off inside Afganhastin, N. Korea,...or like Iran blocking off oil...
Can easily piss away the bull run for the last 5 years....
Via 3 drives to a bottom style Landis?
Thanks for the reinforcement. This is what I was thinking.
enforcer...the economy is shaky but you can't say it is EXTREMELY weak. extreme weakness would mean skyrocketing inflation and unemployment along with already present negative growth. further stocks have already discounted a TON of recession probability. stock valuations are relatively low.
that being said i do agree that we could get slaughtered tomorrow if cpi is up more than expected and if we get bad earnings from JPM and WFC. the INTC earnings really shook the market and the market was already prepping for bad earnings from INTC as seen by the 15% sell off before earnings.
i also feel that it is a good time to start searching around for value picks. like stocks with little to no debt, good amounts of cash, and trading close to book value. i'm not saying to buy now but it might a good time to start building up a list. further since it is earning's season we might be able to buy stocks with cheap valuations that have been discounted for recession that actually come out with good earnings and good forecasts......just an idea for you guys.
looks like 11900 is possible for a bounce
Thar she blows. Taking out 12k today - on an options expiration one, to boot.
I have 1280-1250 as the next S&P target area below the 1370-1350 area. Now that we have broken through the latter it seems likely we will go on to 1280 at least. The 1550 high dropping to 1250 is a 19.4 % "correction." About right, i would guess, but the market has a penchant for overreaction, so 30% is not out of the question. We could see 1050. I doubt it though. I have been in cash in investment accounts since we first hit 1550, but lately have been selectively buying in small size. Will step up buying below 1300, but there seems to be no hurry, as we may be in recession several years. While we are languishing at the bottom waiting for economic recovery, in investment accounts, I would like to get a return via dividends plus small capital gains at least better than treasuries. (Intraday trading has been especially rewarding as of late.)
Good trading everyone, and congratulations BYLO on your AMD Pick. You are 20% up already. Nice going.
Good trading everyone, and congratulations BYLO on your AMD Pick. You are 20% up already. Nice going.