Well there IS a certain truth in SK's statement. But the markets are not, despite certain theorists who believe this, the random walk that is the main function of Roulette. There IS a certain method going on behind the madness. It's the methods employed by the human herd playing this game. That large agglomeration of our species intent on the pursuit of profit. To that extent there's a certain predictability that TA-types ascribe to. And it works...sometimes (heh). Sometimes it doesn#$%$ more an art than science in interpreting the herds patterns, and this is because you're trying to predict and unpredictable beast, the human animal en mass. This is what I call...."Lucy." Pretty much all economic theory is that...an artful theory trying to gussy itself up as a Science. That's precarious work as all prophets (and such) would attest. But we all justify our rationalities (in playing this game) somehow. For me TA works best.
As for all the "we're all DOOM'ed" commentary, those naybobs of negativity passing as informed economic thought here (HEH) all I can say is.....yah....well...for every bubble there is a pop. For every Pollyanna there is a Cassandra. It is in our nature to express our fears and greeds in resounding unequivocal terms. History shows the truth of it all lies somewhere in the middle. In that vast "in-between" within which the extremes always refuse to dwell. And you know what? History always moves along. So it always goes.
MU PM last sale; $30.45.
Just looked at the DAX, Bob. The first thing that caught my eye is that it has gotten too far away from the moving averages 50/20/10. It must regress to the mean to allow the ma's to catch up. This is accomplished in one of 2 ways. The DAX will either move sideways or move up. It is also oversold. Look for a momentum shift. Could happen tomorrow.
Hey Moc. I read an article that was talking about the jaws of death or otherwise known as the megaphone pattern on the Dow. His target for the top was 17,000 and reached in July. His downside target is 1k... I don't know if it will go that low, but the fall will indeed be epic.
Bob, I mentioned a few weeks back that the DOW monthly was showing a Broadening Top which is shaped like a megaphone. Some chartists refer to it as a megaphone pattern. My target at the time I mentioned it was 5,500, but as it continues to develope, the trendlines will change so yes, there is a possibility it could drop lower than 5,500. I also said the higher the DOW went, the harder it would fall. It would not surprise me at all if it reaches 1,000.
On another note, Argentina had to default, and it blames the U.S. According to the world bank (bunch of crooks), the following countries are ready to default:
Brazil, Bulgaria, Croatia, Egypt, Hungaria, Indonesia, Italy, Kazaston, Lithuania, Malaysia, Mexico, Panama, Peru, Philippines, Portugal, Romania, Russia, S. Africa, Slovenia, Thailand, Turkey, Ukraine, and Venezula. The U.S. is right behind them.
This is how large the problem is, and you can rest assured the bond market will be ripped apart devaluating every asset that is available including MU.
I will have to answer your question on the DAX later. I've been up for a while and need a few hours of sleep before the market opens.
"Bubbles bubbles everywhere. When one pops, they all pop. There is no land below folks. Just fear, panic, and hysteria. Its coming and these baby boops have no clue what is ahead of us."
[Well, that's the purpose of you pinheads in the paid shill pool, isn't it? To instil and propagate fear and panic. That's why you are the vermin of the stock markets. ]