Stimulus plan passes congress; Black Tuesday.

B

bond_trad3r

Congress just passed the stimulus plan. Markets are closed Monday. Therefore, this can only mean one thing: Black Tuesday.

Markets will be down 6 to 8%, despite a valiant attempt by the PPT to keep stocks positive for awhile.
 
Quote from bond_trad3r:

Congress just passed the stimulus plan. Markets are closed Monday. Therefore, this can only mean one thing: Black Tuesday.

Markets will be down 6 to 8%, despite a valiant attempt by the PPT to keep stocks positive for awhile.
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I've kinda felt that way to, but many respectable people on here have been telling me a rally is in the cards. I guess we'll see, hopefully sooner rather than later. I just want it to break this range already.
 
Quote from Allen3:

I've kinda felt that way to, but many respectable people on here have been telling me a rally is in the cards. I guess we'll see, hopefully sooner rather than later. I just want it to break this range already.
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We've been hearing about a big rally to take us over 9500 for a few months now. Still hasn't happened. From what I've seen on various boards, there are a lot of people who say that shorting at this level is insane, and that with all the govt intervention, a massive rally will occur really soon. That would indicate a drop under 7000 is coming really soon.
 
Quote from IanMacQuaide:

I don't see the USA getting out from under this crushing debt in the next 100 years.
:(
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We can just print our way out of it, but then people wouldn't loan the gov't any more, which IMO would be a good thing. Stosh
 
Quote from laddie:

We've been hearing about a big rally to take us over 9500 for a few months now. Still hasn't happened. From what I've seen on various boards, there are a lot of people who say that shorting at this level is insane, and that with all the govt intervention, a massive rally will occur really soon. That would indicate a drop under 7000 is coming really soon.
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Yeah. Maybe. There have to be some bulls throwing money into the system to make it worthwhile to sell out from under them. Maybe this sideways stuff is enough. I've always had a picture of the 1929- 32 chart that Port was showing around in my head for this drop. I don't think they had a lot of rally's to the 200 MA during that time.
 
Quote from Stosh:

We can just print our way out of it, but then people wouldn't loan the gov't any more, which IMO would be a good thing. Stosh
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And that $50 Target giftcard you got for XMas will get you a 3-pack of underwear and a tube of cherry chapstick!
 
Look to the overseas markets Sun/Mon to see where we are going before your begin to predict Tuesday's action. Don't automatically assume that this debt increase will prompt a steep sell-off when we resume trading on Tues.
 
Quote from Allen3:

I've always had a picture of the 1929- 32 chart that Port was showing around in my head for this drop. I don't think they had a lot of rally's to the 200 MA during that time.
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Can you repost that or provide a link? thanks
 
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