It's OVER

[stock_trad3r]

panic buying is stronger than panic selling

 

[PohPoh]

Quote from bali_survivor:

No way, it darn well ain't over yet.

Since you are such a trading guru I let it to yourself to figure out why.

Maria

You are an idiot...
and I'm rolling today...

 

[empee]

Quote from Landis82:

Where do you get your $46 earnings number for the S&P 500 from?
Can you provide a reference?

I think its from a John Mauldin perma-bear gold bug presentation. However, I would like to know how he got $46 as well (mauldin) or gnome

 

[Aaron Copland]

SP 500 return to support that was broken last week on large volume.

That is what we have right now.

 

[Landis82]

Quote from empee:

I think its from a John Mauldin perma-bear gold bug presentation. However, I would like to know how he got $46 as well (mauldin) or gnome

I think Goldman has S&P earnings down 33% year over year.

 

[Landis82]

Quote from Landis82:

I think Goldman has S&P earnings down 33% year over year.

Getting back to this issue, I believe that 2007 operating earnings for the S&P was $82.50

A 33% decline gets you down to $55.00

 

[murray t turtle]

Quote from bali_survivor:



Have been in some private rooms and did call the reversal to the tick.


....... you can do your own homework.

There is another remark I made here on ET in the last few days. If you look at the SP then you see the real battle was at approx 850 which was the support for a right angle triangle. That looks like it has now become resistance.

In the 30's it went down 90%. Now it is algo driven and "emotionless" rather than having floor traders refusing to take the other side of the trade. I keep on repeating that the scenario for the US at this time is no different from Germany pre WW II. Look where the Deutchmark in the end went.


Anything more?

Maria.

=================
Agree with much of that.Maria;
more here.
QQQQ went dwn lot more than 50% ,sure it bounced there ,then;
total 80+% peak to valley downtrend.

a]Much more concentrated / fragile fuel & food systems, than '29.
b]Now Israel & USA ememies have & more almost have nukes.
c]And sucide bombers were limited to Japan , generally;lots more now

Actually monthly /last month high retests are quite common in bear markets ;
its a wonder we havent seem more.May see one in DEC

Murray:

 

[flytiger]

Good thread title.

Wrong conclusion.

I'll wring every last penny from the rally, but after Christmas, you'll be able to cut the gloom with a knife.

 

[PohPoh]

Quote from flytiger:

Good thread title.

Wrong conclusion.

I'll wring every last penny from the rally, but after Christmas, you'll be able to cut the gloom with a knife.

Well, so far it looks right...and bear in mind, I'm only calling for a bear market rally in stocks...it's what we are getting (5 straight up days since the post)...
Look to the USD for direction - stronger and stocks fall along with the rest of the energy/metals/grains complexes...
if it breaks down (as the charts suggest it might) then we continue rallying in stocks (target for Spoo is 945ish and then 1007...and perhaps a probe up to the 1050 area)...