DOW Crashing ?!

Not saying I agree with it, but Gary's comments don't seem too out of line to me.

(that's Gary B. Smith from realmoney.com)
 

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Actually the weekly S&P is showing an almost perfect H&S pattern.
Thing is with the Dow the turks won't let it get to 300. It is only 30 stocks and they will just buy every single one of the outstanding float if necessary.
However, 50 DJX puts at 94 bucks in the money would be a nice pay day.
:cool:
 
I took my shorts off today because I think there might be an end of month run up and I'm away from the market tomorrow.
I expect to get back in next week and then I'm with you, short the DOW. Actually I'm looking at some OTM Aug puts but they are too expensive.
 
Wow ... so almost everybody seems to agree that the DOW specifically is gonna crash ... and I'm not so sure whether I read that earlier post correctly ... but did someone mention a 300 target for the DOW ? meaning a 97% drop ? If so, we better start looking for a different term other than "crash" ... because to me this would be something much more serious than a crash ... erosion, maybe ?
 
Originally posted by lundy
EXAGGERATED.

How bout just a lower low on the Yearly chart. Cause thats where it's going, sub 8200 and fast.
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Sounds like someone's got an OPINION. Didn't mommy tell you not to do that with Mr Market?

Note: this is what they call, "talking your position".
 
My only concern is, would the market really crash when almost everybody anticipates so ?? We're all bearish here on this thread ... and even the ones outside this thread are bearish ,,, analysts and bearish ... traders and bearish ... investors are bearish ... how about the contrary theory guys ??
 
Originally posted by Bono
My only concern is, would the market really crash when almost everybody anticipates so ?? We're all bearish here on this thread ... and even the ones outside this thread are bearish ,,, analysts and bearish ... traders and bearish ... investors are bearish ... how about the contrary theory guys ??
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The "market" pretty much already crashed. We're only talking about the Dow here.

I for one aren't bearish on the outlook for the rest of the year. I'm not bullish either. I'm really not smart enough to decide on those sorts of things.

With bearish sentiment so prevalent, I'd be more inclined to believe the opposite will happen (bull). Anyway, I don't particularly care which way the market goes, I'll make money whatever happens. However, as traders, well, short term traders anyway, we'd all benefit from higher stock valuations.
 
The Dow is no longer a very good representation of the market. A lot of things have changed since this index was created. To make it more representative it probably needs about 100+ stocks in it. So for me the Dow fixation that goes on everywhere is pretty silly because IMHO the Dow is irrelevant. The S&P 500 is probably the index that represents in today's world what the Dow represented way back when Charles Dow created it.
 
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