ES Journal Archive (2009 - 2010)
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JPMorgan Sees S&P at 1100 by end of 2009
http://www.bloomberg.com/apps/news?pid=20601109&sid=a5SWseWPRUUM&refer=home
- this analyst expects the S&P 500 to end the year at 1,100, or 21 percent higher than yesterdayâs close.
- The S&P 500 rose 34 percent from its March 9 low through yesterdayâs close May 8 that is 34% rise in exact 2 months.
- Stable retail sales, a pickup in pending home sales, and other indicators signal the recession may hit bottom by midyear, leading to higher share prices, the report said. The S&P 500 rose 34 percent from its March 9 low through yesterdayâs close.
- âWe want to become âslow buyersâ of stocks,â he wrote, citing the likelihood that prices will drop below their March lows before rising anew. This so-called retest would serve as a trigger to buy âin a larger way.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a5SWseWPRUUM&refer=home
- this analyst expects the S&P 500 to end the year at 1,100, or 21 percent higher than yesterdayâs close.
- The S&P 500 rose 34 percent from its March 9 low through yesterdayâs close May 8 that is 34% rise in exact 2 months.
- Stable retail sales, a pickup in pending home sales, and other indicators signal the recession may hit bottom by midyear, leading to higher share prices, the report said. The S&P 500 rose 34 percent from its March 9 low through yesterdayâs close.
- âWe want to become âslow buyersâ of stocks,â he wrote, citing the likelihood that prices will drop below their March lows before rising anew. This so-called retest would serve as a trigger to buy âin a larger way.
Here is my take on his prediction that S&P will drop back to 650 level then pick to 1100 by end of 2009
- what this analyst is saying they buy slowly at this already hiked S&P level and expects to test March low of 650 , once it touch March lows of S&P then they buy in a big way .
- who do not buy big way if S&P touch 650 which give 35% return on 650 to 890 , that is the precise reason why it won't fall down to 650 coz every body saw this 2 month pick from 650 to 890 so the very recent memory ( to people and fund managers ) of this quick spike won't let it fall to 650 ..
- people won't let it fall below 750 no matter what ........
- what this analyst is saying they buy slowly at this already hiked S&P level and expects to test March low of 650 , once it touch March lows of S&P then they buy in a big way .
- who do not buy big way if S&P touch 650 which give 35% return on 650 to 890 , that is the precise reason why it won't fall down to 650 coz every body saw this 2 month pick from 650 to 890 so the very recent memory ( to people and fund managers ) of this quick spike won't let it fall to 650 ..
- people won't let it fall below 750 no matter what ........
some support lines
the financial sector is coming under dilutionary pressures.. with equity offerings.. this should put pressure on the market till those offerings are absorbed.
the market will be range bound in a 250 point range in the Dow above 8000(8250-8500)...
the market will be range bound in a 250 point range in the Dow above 8000(8250-8500)...
nasdaq leading.. down.
1330 seems to have affinity in Naz.
1330 seems to have affinity in Naz.
Summary:
JPMORGAN wants to sell you what they have accumulated at cheaper prices.
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