8800 dow wow Where is the Floor
- Thread starter hottpotat0
- Start date
7777
why keep looking to buy something? why not keep your money out? i am almost certainly going to sell what i have. even the fact that i am considering holding on is indicative of this stubborn tendency to wait and see, because we're afraid of missing out on some relief to the upside. it's almost a sickness. this idea of defensive stocks seems a bit off to me. if you want to be defensive, there's no better choice than cash.
plenty will say that this is the time to get in or stay in because of the fear and panic and the pervasive bearishness, or that it's too late to get out now. but no one knows. fools on cnbc are always asking where to put your money...
but it's just not reasonable anymore. there's no telling how deep this rabbit hole goes.
The writting has been on the wall ever since the S&P's made a double top on the monthlies, but day traders, for the most part do not trade long term commodities. The next support is approx 867, but we will break that to complete a "M" pattern.
As far as what stocks will go up, I certainly not even looking to consider anything, rallies will be dead cat bounces. It doesn't take much smarts to understand seven year highs in unemployment, banks gone bad, it will get much worse than better.
CD's are not insured, muni's poor investment as well, when more folks get layed off, government will have even less money coming in. I recall someone wrote an book based on the eighty year cycle, every eighty years the world goes into a depression, we are due.
China holds how many trillions of our debt? For the sake of profits? USA has sold out our citizens for the stock market. We don't have industry any more, China does, and so does our jobs.
Mexicans came in to pick crops and for years we look away, well they now have picked up many good paying jobs and it happens everywhere in USA.
Many will say I am a doomsayer, but there is no good reason for the market will go up. Much of my trading is very long term commodities, all markets go through long term cycles. Study history and it always repeats.
Several months from now, stocks that I would be interested in staples of life, soaps, breweries, paper goods, cable TV, auto parts. But the market will need to go into "basing" for several months to form support.
As far as what stocks will go up, I certainly not even looking to consider anything, rallies will be dead cat bounces. It doesn't take much smarts to understand seven year highs in unemployment, banks gone bad, it will get much worse than better.
CD's are not insured, muni's poor investment as well, when more folks get layed off, government will have even less money coming in. I recall someone wrote an book based on the eighty year cycle, every eighty years the world goes into a depression, we are due.
China holds how many trillions of our debt? For the sake of profits? USA has sold out our citizens for the stock market. We don't have industry any more, China does, and so does our jobs.
Mexicans came in to pick crops and for years we look away, well they now have picked up many good paying jobs and it happens everywhere in USA.
Many will say I am a doomsayer, but there is no good reason for the market will go up. Much of my trading is very long term commodities, all markets go through long term cycles. Study history and it always repeats.
Several months from now, stocks that I would be interested in staples of life, soaps, breweries, paper goods, cable TV, auto parts. But the market will need to go into "basing" for several months to form support.
The floor disappeared as soon as the bailout plan was approved. They just held up the markets until the plan got approved so that they can get the support of investors. The fraud is crystal clear. People must be blind to not see it.
a lot of great advice with reasoning behind it tomorrow should be interesting-huh-sidelines it is
