SPY, EEM, FXI, EWQ, EWP all showing signs of THE ultimate bottom

PortI385 · Nov 24, 2008

If you take a look at many of the world ETFs - EWP, EWQ, EWC, FXI, EEM, SPY, etc.. the movement in all of these indices, it is showing double bottom, the final kick in some of these ETFs seem like it was a classic shakeout for the weak hands.

For instance, EWP (Spain):

We are oversold and if you take a look fundamentally many stocks are selling below cash/share. We are at THE ULTIMATE bottom here. No I'm not pumping.

Go to a mall, and take a look at how many people are shopping during the weekend. Does it feel like recession? Can people still afford $5 for a cup of Starbucks? Can people afford to buy a pair of Reebok or Nike? What about a new Dell, Sony, or Macbook?? I bet plenty are selling this Christmas. If so, then we're still doing fine. This feels like a fearmongering to me, and oil is at $40. Job losses are temporary and there will be a new job creation with Obama's program.

AAPL, GOOG, RIMM, V are just some of the individual names that are super cheap, in my opinion.

index_trad3r · Nov 24, 2008

you're an idiot what does this have to do with trading

slapshot · Nov 24, 2008

Quote from PortI385:

If you take a look at many of the world ETFs - EWP, EWQ, EWC, FXI, EEM, SPY, etc.. the movement in all of these indices, it is showing double bottom, the final kick in some of these ETFs seem like it was a classic shakeout for the weak hands.

For instance, EWP (Spain):

We are oversold and if you take a look fundamentally many stocks are selling below cash/share. We are at THE ULTIMATE bottom here. No I'm not pumping.

Go to a mall, and take a look at how many people are shopping during the weekend. Does it feel like recession? Can people still afford $5 for a cup of Starbucks? Can people afford to buy a pair of Reebok or Nike? What about a new Dell, Sony, or Macbook?? I bet plenty are selling this Christmas. If so, then we're still doing fine. This feels like a fearmongering to me, and oil is at $40. Job losses are temporary and there will be a new job creation with Obama's program.

AAPL, GOOG, RIMM, V are just some of the individual names that are super cheap, in my opinion.

Go back and look at history - it usually takes a triple bottom for a real big trend reversal - what you are pointing at is just bear market profit-taking bounces - the trend is still firmly DOWN.

And if you think that Obama is going to create jobs then you truly are a dumbshit.

dis · Nov 24, 2008

There is no double bottom on the SPY chart. I am willing to bet that SPY will re-test 75.

PortI385 · Nov 25, 2008

Probably a dip again in SPY then we rally north to 120 at least.

Quote from dis:

There is no double bottom on the SPY chart. I am willing to bet that SPY will re-test 75.

PortI385 · Nov 25, 2008

Not on SPY, it's inverse head and shoulder instead. Looking bullish.

Quote from dis:

There is no double bottom on the SPY chart. I am willing to bet that SPY will re-test 75.

S2007S · Nov 25, 2008

So after a 5+ year long bull run in emerging markets the bottom is put in in just a few months, right.

Does anyone comprehend that the world is in a recession, I dont think a chart of EWP is going to signal the bottom, the bottom is far from being in place. These emerging markets etfs can fall an additional 50%.....This is a long term bottoming process.

Port1385 · Nov 25, 2008

Dont worry S2007

gnome · Nov 25, 2008

Likely a "swing" or "leg" low... just because Da Boyz have decided "it is so"....

THE BOTTOM.... is likely a Lonnnnnnng way off.

S2007S · Nov 25, 2008

Quote from Port1385:

Dont worry S2007

Believe me Im not.....no matter how you look it there isnt anything that one can find positive about the out look on this economy...

The last bull market was inflated with monopoly money, how will they inflate the next bull market????

I dont know why everyone is so scared of a slowdown, its good for the economical cycle, yet no one believes there should ever be something called a recession, recessions in my opinion make the economy stronger in the long term, By preventing what could have been a long recession back after the dot com bubble burst all they did was inflate the markets with cheap credit and low interest rates, as we can see just 5-10 years later this wasnt the way to fix it, and what are they doing now, the SAME EXACT THING.