Will the S&P hit 1000 or 700 first?

[Kris]

Yeah I think I'll go with 700

 

[wavel]

The long at 713 must of touched a stop. :eek:

 

[Kris]

Wouldn't that just kill ya if the bottom was 705

 

[Bolimomo]

Quote from Kris:

Wouldn't that just kill ya if the bottom was 705

No. But it will kill me if it touches 700.25 and then starts a rally.

 

[andrewbee]

I'm going to take a wild stab in the dark and go with 700. I'd say there's about a 50/50 chance ...

 

[Kris]

Just hit 700. Well done. Good call.

 

[maltatrader]

You have your answer

 

[PocketChange]

Nice... Whats your next prediction on 600 or 850?

 

[tardes]

Quote from PocketChange:

Nice... Whats your next prediction on 600 or 850?

There was this guy from cazenove today on CNBC saying that the market will fall to 600's

http://www.cnbc.com/id/29462470

I have to say that since the market has been on the 8000's (Dow) I have heard several stories of iminent rallies.

In fact I have been fighting for my life since 8600 (Dow) because I have followed the advise of Mr Art Cashin (UBS director floor operation) that we would have a 3000 point Obama rally.

 

[andrewbee]

Quote from tardes:

In fact I have been fighting for my life since 8600 (Dow) because I have followed the advise of Mr Art Cashin (UBS director floor operation) that we would have a 3000 point Obama rally.

Instead we had a 2000 point decline. Mr. Cashin (bad name) said that obviously has no clue about trends and technical market action (i.e. the fact that it basically does the opposite of what everyone thinks it will when a given event happens).