Cantor dude on cnbc said the low is in...

[SunTrader]

I know what you meant. You intimated he's dumb as a rock when it comes to markets. But that's what everyone said about Howard Stern when he was on terrestrial radio, and he eventually got his gig on Sirius for 100 million per year.

See you prior post again.

"You don't need smarts to be on TV. You just need money, influence or power,..."

Or Sirius. And in Howard's case .. class.

 

[smallfil]

.. for the year

I strongly disagree and I'm not even smart enough to be on television

That is why one must know and understand market cycles and have a decent grasp on reading stockcharts and able to use technical analysis and trends, among other tools at their disposal. Odds are in your favor to make smart trading and investing decisions. You have a bunch of ignorant fools on the ET message boards who say, trends do not work and technical analysis does not work. Fine, then don't use it. Others talk gibberish to try and impress you but, are just as clueless. Nobody is forcing you to do anything. A lot of hacks come on CNBC and Bloomberg, they do not use anything except, their gut feeling on when to buy and sell stocks. The same guys are telling people to risk their hard earned monies because they are bound to make monies over the long term.

 

[VEGASDESERT]

huge trap or legit reversal?

 

[Buy1Sell2]

I believe he will be looking for a new job soon. Not due to him being wrong, but because he is flip flopping all over the place. Not good for the brand. Like to see that he is using RSI. That's a great tool.

 

[countryBoy641]

I agree.
His P&L for the year probably sucks.
He needs a "dead cat bounce" to make the year work (cash bonus, 144 stock, etc)

 

[nitrene]

I believe this is the second time he's flipped his call about the market. Back in July/August he said the bottom was in and its straight up from here. Then a few weeks ago he said he was sure S&P was going to 3300.

The best person who comes on usually when the markets tank is Dan Niles who runs a Tech hedge fund (The Satori Fund) and was a semiconductor analyst in the 1990s and early 2000s. His prediction is a lot of volatility and a bottom at around 3000 on the S&P sometime next summer I believe.

I think the last time I watched him he said the next leg down for tech companies was going to be the Enterprise software spending collapse. He said that Tech stocks during the time of high inflation had a trailing P/E of 7-8 in the early 1980s (I assume that was mainly Enterprise like IBM, Unisys, Wang, HP, Intel, etc.).

 

[Pekelo]

In most years, the bottom comes in between mid-Aug and late Oct. So he may be right or we make another bottom 2-3 weeks from now, statistically speaking.

 

[Overnight]

In most years, the bottom comes in between mid-Aug and late Oct. So he may be right or we make another bottom 2-3 weeks from now, statistically speaking.

Larry Williams would agree with you there, as Cramer points out.

 

[MacBookProHo]

Past performance, range, direction....is no guarantee of future pathway movement.
Breakaways, deviations, happens all the time. A trader has to account for that dynamic, variable, change environment.

I always roll my eyes and sigh when a trader makes a case for future movement based off of basic history,
If trading were that easy, instant and basic....everyone would be partying while holding bricks of cash in photos, flashing their million dollar smiles, eyes and teeth and tounge,

 

[murray t turtle]

huge trap or legit reversal?

View attachment 296745

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SPY benchmark + QQQ = bear rally\
still a bear market\bear trend, even if closes @10;16 CST price + that's not likely.
Remains to be seen if OCT lives its Stock Trader's Almanac nickname '' bear killer.''
NYSE Specialist Robert ScaVone said seat in1948 \costs $125,000\
went down to $38,000 , in 1973,74\due to panic selling ....................................