Faced with the bruising headwinds of high unemployment, weak manufacturing and an otherwise listless economy, Goldman Sachs has slashed its forecast for gross domestic product.
dead cat bounce at 11k Dow.
may take months to stay below 11k.
then you have more major support at
10k. I'm not just throwing out round
numbers, these are the actual support
prices. 10k is more solid than 11k, hence
11k = dead cat.
absolutely, if the 200MA on the Dow
collapses, the Quants will sell in huge blocks.
Liquidation will, however, be slowed by the
Circuit Breakers. CB's will make sure it takes
weeks to reach the dead cat bounce level.
Still, it's all fantasy talk until that 200MA
is closed below. Really all other talk is just
semantics at this point.
This is huge news. No wonder they waited until after the close to release it. I've been watching CNBC in the background at work these past weeks and honestly I call into question the double speak of frequent guests like Guy Adamy and Cramer. They pump the market on one side of their mouth and dump on the other!
I have no confidence in anything but gold these days. Everyone on "The Street" is a liar or has a vested interest to push.
My gosh.. I saw it coming as did many here. But I do find it funny to watch the controlled media fall off their chairs with this news. Here is my next guess. 2% GDP growth will not match the inflation, so we are already in another recession. OMG! But shhhh don't let your neighbours in on it.. It can be our little secret.