Within 3 weeks the combination of political
instability and deteriorating worldwide fiancials,plus
upcoming earning season will doom this market.8000 is the
maginot line.Once that number is crossed then the Sunday
Buisness Sections will lead with the bold faced
headline...BEAR MARKET DESCENDS ON WALL STREET.Then the mutual
funds will get hit with the redemptions.That will
really spur it.then the hedge funds will sell Dell/Csco
and the big momentum stocks and that will be the
start of the final capitulation.Only then will we see
Yes, I saw them,
I agree pretty much what
was said, and I think that it clarifies the position
that the market is in an unsure state.
I reiterate that the market won't rally in earnest
until everyone is sure that we are at the bottom. That
won't happen until we shed another 300+ points in a
Think of it like taking a plaster (band aid) off. You
can rip it off quickly in one sharp painful swipe, or
slowly peel it off painfully. We need to have our band
aid ripped off, and then we can rally
PS,Check out also my days prediction with Dell holding,
the market tumbling, and recovering some in the pm.
Looking good so far :-)
I agree that DELL, MSFT and the like are the best
places for now, but here's an appropriate analogy for
today.... it's like a stone wall facing the ocean, the
pounding of the surf just bounces right off for months and
years, but when that hurricane comes, it just can't
stand up any longer.
I am a bull at heart,
don't get me wrong, and I believe this to only be a
correction (maybe a longer one than some expect) and DELL
will weather it fine six months from now, but we could
easily see DELL follow the pack in the next downward
movement after 9/8.
Hoping I'm overly concerned.
I share your concerns. While the US economy
couldn't be better (low inflation, low interest rates,
full employment, excellent housing market, etc.), the
growing fear on Wall Street that foreign woes will
translate into serious US economic implications in the
future is causing growing bearish sentiment.
With a bounce here and a bounce there, I think the
Market will go lower before it starts the next Bull leg
up. A few stocks like DELL and MSFT will be hit least
and will recover first. Great hidey holes.
these uncertain times, my subscription to thestreet.com
more than pays for itself. I get my $9.95 worth from
the other writers, and figure I get Cramer "free"
<G>. I don't always understand what he is saying or
implying, but I'm learning, and the
behind-the-scenes-look-at-Wall-Street is unique.
Hope you safe from
Yes, I read them and found them interesting as
the day progressed in his eyes. I still have
'concerns' about where the market is going in the next
couple of weeks, not to mention til the end of the
We have yet to close below 8400 and if we do, I
think we're in for another 10% or more correction. DELL
has been able to weather it so far simply because of
earnings announcement timing and now the run to the split
date, but if the market isn't stable by 9/4, we'll fall
with the others in my opinion. Right now, we're
rallying on hype and it won't last after 9/8 if overall
conditions aren't better.
Still waiting on the panic
selling day. I'll know when it comes, because I'LL be
considering selling!!!! That's when I'll know it's time to
buy. Til then, more of the same. IMHO