Very Bullish reversal is just happening
- Thread starter hajimow
- Start date
Market is down 20% because of everything. What do you expect? That market to go down another 50%? Like 5% every day for the next 10 days? Did you see anything bad in AAPL or GOOG or IINTC Q report? Did they give any gloomy outlook?
You should have a brake in your mindset and reverse. I did not say DOW will go to 20000 from now. I say DOW will not hit 10000 in the next two months even if MOODY downgrades or... Unless a catastrophic thing happens, we will go up 10% in the next two months and then from there if you look back, market would still be down 10% from two weeks ago high.
We have a 70% consumer-driven economy. As long as interest rates are not a "tax" on the consumer, and gasoline stays within reasonable limits, the SPX should stay bullish. Last I heard, 75% of corporations meet or beat expectations, even with 9.1% unemployment. Where else would people park their money?
The Bush tax cuts will expire in 2013, but chances are, we fire the "Debt Man Walking". If the Republicans take the White House in Jan 2013, there won't be tax increases and Obamacare, due to take effect in 2014, will be repealed.
