13 of Dow 30 Broke 2002 Lows: Foundation is Crumbling

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ByLoSellHi

The others will follow. It's akin to a law of nature.

Fast Money interviewed a competent technical analyst tonight (Louise Yamada) and she eloquently explained why.

She has been right four out of four prior major calls.

She has a trading range on the S&P of 400-600 soon.

Ouch.

Edit - Thanks for the last name. Yamada.
 
C, GM, AIG, and GE no longer count. They have virtually no weighting on the Dow and spooz.

It is quality, high growth stocks like MSFT ,KO, MCD, WMT that contribute the most to the dow, and these stocks will immune to the non crisis.
 
By lo I have been bearish this entire time and believe there is more downside but seeing these calls this late makes me think twice about believing their calls, I mean it seems it works on the upside and downside, I know many talking heads on cnbc calling for an even higher DOW when we were around 13k, it topped out at 14k and even then they were calling for a higher dow and s&p and that buying any dip was the way to go, now fast forward to the bear market and it seems everyone is throwing out all these downside figures that makes you want to think that maybe the time to start buying for the long term can be very soon. Even if we do get to s&p 600 there will be great rallies along the way, I think there is a huge rally thats ready to unleash itself sooner than later, we shall see. Im calling for a low of 6500 -7000 on the dow as a short term bottom.
 
Some bear rallies are inevitable, just like the kind we had last Thursday, and the types we had before we were alive, back in the 30s.

Other than that, it's all bad.


stock_turder is still semi-bullish. He is my guiding (contratrian) light.
 
http://www.lyadvisors.com/

Opinions are ubiquitous.

She looks almost gleeful.

I never trust people who tell me party on and dont worry about paying for the clean up and by the same token, seemingly are happy to see wealth destruction.

Good luck to her.
 
This would be the same Yamada who was shouting out "short!" signals 3500 points ahead of the Dow top?

How do I distinguish her "call" from a stuck clock?
 
Quote from stock_trad3r:

C, GM, AIG, and GE no longer count. They have virtually no weighting on the Dow and spooz.

It is quality, high growth stocks like MSFT ,KO, MCD, WMT that contribute the most to the dow, and these stocks will immune to the non crisis.
More...

When are you going to thowl in your bull towl and lose all hope? Once that happens the bottom will surely be in.

Once the perma-bulls are done buying and have no hope, then we'll probably be ready for another bull market.
 
Quote from S2007S:

By lo I have been bearish this entire time and believe there is more downside but seeing these calls this late makes me think twice about believing their calls, I mean it seems it works on the upside and downside, I know many talking heads on cnbc calling for an even higher DOW when we were around 13k, it topped out at 14k and even then they were calling for a higher dow and s&p and that buying any dip was the way to go, now fast forward to the bear market and it seems everyone is throwing out all these downside figures that makes you want to think that maybe the time to start buying for the long term can be very soon. Even if we do get to s&p 600 there will be great rallies along the way, I think there is a huge rally thats ready to unleash itself sooner than later, we shall see. Im calling for a low of 6500 -7000 on the dow as a short term bottom.
More...

Being bearish or bullish is just a state of mind. The bottom line in this business is to make money. Pure and simple.

While I respect the work of some technical analysts..and I can count them on my fingers...the rest could not trade their way out of a paper bag.

Yamada saying that her target is 400 or 600 for the S&P adds absolutely nothing to the bottom line (at least mine). It only takes a few S&P points in the wrong direction to prove that you are wrong when trading on leverage.

:)
 
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