8000

DonQuixote said:
when the market drops below 8000 it is time to buy

there are some real bargains out there :)
Click to expand...

There are three technical breakpoints underneath 8000 that everyone should be aware of....

These are all approx...

7880... low from early Oct..... should be some resistance here
7440... 50% retracement of the 1982-2007 bull run...
7200... 50% retracement of the 2002-2007 portion of the bull run

If the market blows through these stops, the next one doesn't come until about 4900.
 
Superfreak said:
There are three technical breakpoints underneath 8000 that everyone should be aware of....

These are all approx...

7880... low from early Oct..... should be some resistance here
7440... 50% retracement of the 1982-2007 bull run...
7200... 50% retracement of the 2002-2007 portion of the bull run

If the market blows through these stops, the next one doesn't come until about 4900.
Click to expand...

Thanks. That's a nice, sunny perspective on things...
 
Obfuscate said:
Bummer, I guess your prediction of the taxpayer making money off junk assets kind of goes out the window.
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That prediction was dependent upon the idiots in DC actually buying the assets and cleaning up the balance sheets of the banks in exchange for equity stakes. Now the taxpayer gets the benefit of a guaranteed loss of the money the idiots are dispersing.
 
Superfreak said:
That prediction was dependent upon the idiots in DC actually buying the assets and cleaning up the balance sheets of the banks in exchange for equity stakes. Now the taxpayer gets the benefit of a guaranteed loss of the money the idiots are dispersing.
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the bush administration cannot be trusted, and giving them 700 billion dollars is like giving a coke addict a pound and saying "just do a little each day".
 
klaatu said:
Im wondering how low can Oil go? When is it time to jump in?
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It is a lot lower than I thought it would reach already. With the concerns about the economy, it could stay down here for a while. But the dollar appears over-valued, oil-undervalued. At some point that will correct itself. The hard part is figuring out when. Could be tomorrow, could be next year.

Really funny that all the bitching about the 'speculators' has gone away now that they have driven oil below fair value.
 
yeah SF said a couple months ago the capitualtion point was 12000 if I remember correctly.

So why keep listening to him ?
 
DigitalDave said:
I say it crashes to 6000 before any recovery. Screw the technicals, they don't matter in this market.
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funny, given that the technical buying started in force once the Dow cracked 8000 today.... Dow closed above 8800. I would say that is a prime example of the technical trading. That said, I don't think we are done testing the low.
 
And I was Wrong it Was another market whiz Chapdog that posted the capitulation thing.

"Oil Bubble is deflating, dollar's inflating, market recover is beginning
I believe i nailed the Capitulation bottom. Think from here we start moving forward 2009 could turn bullish.

Oils down from 145 to under 120 and thats with some major events happening that normally would push the price up because we have such a gluten of supply. At this rate by sept the past years barrel increase will be gone.
"

http://www.justplainpolitics.com/showthread.php?p=310167&highlight=capitulation#post310167

on 8-8-2008

Some funny threads from our economic eggspurts in our files.
I did not see SF in big disagreement.

I have still been more correct on all of this than they have.

We ain't seen nuthin yet folks. Sorry to say.
 
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Superfreak said:
funny, given that the technical buying started in force once the Dow cracked 8000 today.... Dow closed above 8800. I would say that is a prime example of the technical trading. That said, I don't think we are done testing the low.
Click to expand...

Yeah, well I say we create a new technical indicator so eat that!
 
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