High Probability the Bottom is in - A rare Joab call

J

Joab

SPY

Look at Monthly SPY chart at 79.50


Just barely took out 2002 lows - KEY support area.

Friday was the climax rally on the Daily
chart.

The price of Oil is the fundamental key for corporate profits to return soon.

Good riddance Bush


Up we go !
 
hmmmmm

Did anyone listen and BUY on the open ???


Don't worry if you didn't there will be lots of time to get in.

The recovery won't happen overnight.
 
Look at the Daily chart. You might want to change your prediction.

Basically every day it's been going down for the past year and now we have two days of being up.

I would say the probabilities of it continuing down is very likely.

You more likely to bet on two days of data or a year?
 
Bottom is still not in.

Today and Friday I have added DXD, FXP, DUG and sold URE.


No need to think the bottom is in, I sound very repetitive, but there is no catalyst to push this market back to 14k let alone 12k. I have idea why every time we rally off the low many think the bottom is in.....
 
Quote from stock_trad3r:

there doesn't need to be an obvious catalyst. Market looks very far ahead.
More...

How would you know? Your wrong on 90% of your predictions.
 
Quote from NeoRio1:

Your wrong on 90% of your predictions.
More...

It doesn't help being bullish in the deepest bear market since WW2. But a year form now things will be much different.
 
Hmm...

probably more downside to come as more tax losses are realised/delevering continues/redemptions continue.

You gotta have ginormous balls to take long term positions right now.

Than again anything can happen, and usually does!
 
joab,

same thought here. we are at the volatile bottom of
the major US indices. i do not expect to see the sp
far north of 1.000 any time soon, but i think the low
is in. my worst guess is 700, i don't see it tank lower.
 
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