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  • papadop007 papadop007 Sep 28, 2011 12:53 PM Flag

    Only a few stocks holding up markets

    When AMZN goes down after this distribution, expect retest of March 2009 lows coming up next.

    10% chance of double top here, but I would not dare bet on it and if everybody else thinks like me, then the opposite happens. Just the fact that AMZN is at all-time highs, tells me this market is 90% going lower. time to pay attention folks we are near another pivotal point.

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    • Just look at the broad market and former leaders like BA, CAT, and MMM. They are all breaking down while the S&P 500 has been range-bound from 1100-1200. Since the generals are out of favor, I fully expect the S&P 500 to break down to the 1000-1050 area as early as next month. Scamazon and a few other bubble stocks cannot keep the market up indefinitely. Crooks will book in gains for the holidays.

      Scamazon is up due to fast $ playing with the risk-on theme. When risk-off is back, then Scamazon will see sub 200 in less than one week.

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