Ok..anything is possible in the market... Who could accurately predict that the oil price would jump back to 137 just in 2 days when it was 125? So, what you said was not impossible.
My wild guess is.. if the market is coming back later in this summer or in the 3rd quater, S&P may go back to 1700 by the end of 2009 or by early 2010.
Just a side note... on your chart, I see a possible fibonacci ratio time zones between the 1Q 2000- late 2002 period (down) and early 2003 to 2007 Nov period( up).
I am no student of Wave principle and I am always not doing well on counting and understanding waves...so sorry if I say anything wrong here.
My wild guess is.. if the market is coming back later in this summer or in the 3rd quater, S&P may go back to 1700 by the end of 2009 or by early 2010.
Just a side note... on your chart, I see a possible fibonacci ratio time zones between the 1Q 2000- late 2002 period (down) and early 2003 to 2007 Nov period( up).
I am no student of Wave principle and I am always not doing well on counting and understanding waves...so sorry if I say anything wrong here.
Quote from Port1385:
Hey guys, We are in a bull market and this is the greatest time to buy ever.
If we were in a bear market, then the indexes would be much much lower by now. Look at 2000 when the indexes started falling...by mid-year 2001 we were down in the 1100s and still continuing to fall.
We are simply in a low volume pullback before the next move much higher and the target is 2200 on the S&P.
I would say to go ahead and pick up some BIDU and GOOG. Get some stocks that are listed on the IWO and other growthy picks.
The amount of fear right now is very high, but investors like Ken Fisher, Warren Buffet and even notable short seller Ken Bass are going long on the markets.
There has been news article after news article of gloom&doom, but the indexes are not that much lower then where they were at in 2007. The economic news section of this website seems as if we are in the middle of a great depression. If things were really that bad, then the indexes would have fallen a while ago.
For example, look at every bear market in the past. The indexes were ready to fall fast and strong, but these indexes seem to be strong as if someone out there is using this pullback as a buying opportunity. For example, the Fidelity Magellan fund was buying in the first quarter of the year.
Im betting that when oil falls, which I believe it will in the future, then the rest of the indexes in the SPX will go higher.
Also, notable poster byhiselllo has made another get the hell out speech. When he made his last speech, the indexes forged themselves higher.
Buy some GOOG! Buy some BIDU! Dont worry, just buy it!
