***warning: All Support On The Diamonds (djia) Is Lost!!!***read This Post

This market needs a 7-10% single day drop to clear out these sellers, this slow grind downward is just getting too much for any individual trader to handle. The SPX is setting up for a new closing low in my opinion, it would be great to get a total wash out and drop towards the 650 area and create somewhat of a definite bottom but who knows. I believe there is a trade on the long side setting up sooner than later. Lets see how the close looks, last friday the dow just barely closed above its 11 year low, today however I dont think this is going to happen.
 
Quote from HGTrader:

all meaningful support on the dow will only be broken after dropping below 7000.

That would be the point the mega bear conquers or mortally wounds the mega bull and the path of least resistance is downward for a significant distance
or time to come. And the rise from dow 1000 to dow 14,000 (1983-2007) would end up looking like a monster bubble that ended up with a POP!
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Agree, The rally to 14k as I have said numerous times was all created with plenty of leverage, easy credit, low interest rates and plenty monopoly money. The rise back to 14k will take more than a decade to achieve, maybe even longer.
 
Quote from stock_trad3r:

Looks like we got a 50 point bounce off the bottom with huge volume.

A green close is a very strong possibility

go long
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If you're still scratching the 3 cents you have left from each dollar of your original portfolio, and are still making noise, we've got a lot further to fall. :D

Thanks for being the best fade there's ever been anywhere, at any time. :D :D
 
Quote from stock_trad3r:

Looks like we got a 50 point bounce off the bottom with huge volume.

A green close is a very strong possibility

go long
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who are you - for real?

background. age. marital status. education. what are you long with now?
 
Quote from bond_trad3r:

The market is going to 1,000

GE, BAC, C, AIG, GM are all going to 0.
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Even if these 5 companies did go to ZERO it would only be worth a few hundred dow points however seeing these drop to ZERO would put even more extreme fear into the market causing major market panic selloff and probably bring the dow to around 3000, I want to say 1000 but im being nice with my 3000 prediction.
 
Quote from ByLoSellHi:

If you're still scratching the 3 cents you have left from each dollar of your original portfolio, and are still making noise, we've got a lot further to fall. :D

Thanks for being the best fade there's ever been anywhere, at any time. :D :D
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I am using him as an indicator myself, I have his posts integrated in my trading platform, looking to automate soon :D
 
Quote from l2tradr:

I am using him as an indicator myself, I have his posts integrated in my trading platform, looking to automate soon :D
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You can patent that and make it proprietary 'black box' trading algorithm software. :D
 
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