Is 11,000 a psyhchological barrier in the market ?

What was Chap talking about in his other subsequent thread then ? Capitulation ?
I am not sure what that means in relation to the market.
 
It appears that Chap and others seem to think 11k is a psychological barrier for the mkt. Or at least they are hoping it is.
 
uscitizen said:
I did not say that. See the Capitulation thread.
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Capitulation does not mean psychological barrier. And your definition of it was the prevalence of despair. So. When you said Chap and others were hoping for your psychological barrier, I assumed you were consistent in your definition.
 
uscitizen said:
The Absolute bottom ? Hanging on to desperate fantasies there ?
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Think of it as a point in time where people start buying again because of bargain prices.

Only time will tell but there is always a bottom. Did I call it right? we will not know for a little longer.

Read my linked artical about the next bubble in the Capitulation threat. Kind of gives a nice 10,000 foot prediction.
 
I think a break under 10,000 (i.e. 9999) on the Dow would have a larger effect than breaking below 11,000. When the first digit rolls down, we have a problem.
 
I think there's plenty of dispare in the market already but don't think it's due to technical indicators. I hear zip lately about the phschology of the 1,000 but on the way up CNBC was obsessed with it.
I don't doubt a lot of traders will sell when it's breached driving it down more.
 
Topspin said:
I think there's plenty of dispare in the market already but don't think it's due to technical indicators. I hear zip lately about the phschology of the 1,000 but on the way up CNBC was obsessed with it.
I don't doubt a lot of traders will sell when it's breached driving it down more.
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Thus making them discounted and, if you are smart, a good time to buy.
 
Damocles said:
LOL. Sometimes.
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Anyone have an opinion on bottoming feeding in Fannie or Freddie?

I made some huge gains by getting in a Bank sector fund after the RTC crisis, when they couldn't GIVE bank stocks away. A couple years later... :cof1:
 
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