emc dipped to 40.25 my open order was at 40. oh well there is always tommorrow. Lets hope the market goes higher but if it is weak and emc dips to 40 I will own a thousand shares and hope for a rebound agian. I really think the bull market is still running but it will have dips and will be volitile too much money wants in this market all those baby boomers pouring in money and foriegn money is pouring in too. But it won't be a smooth ride
We can't all guess where the bottom will go on one day. If we did we would not be taking to each other on this board. So rather talking to oneself and mumble that I missed it (as I did also), let's look at the over seas markets for today (before New York opens). Japan is up, Russia is up 8%, the Western European nations are up - so the DOW will rebound up today. My guess EMC will hit 44 today. We now know were the safty net is for EMC and that's 40 1/2. I'm off this week, and had to go to the doctors and so I placed orders for a few hundred shares at 42 even at 1 PM. I believe this is a day traders market (no brainer). Your correct, it is still a BULL market, analyst are still saying the dow will approche 10,000. Of course they said this after the close, they did not say this during the plunge after 2PM - they did not have the balls. They were as depressed as coud be - they all looked liked they need Prozac during the day.
So expect today to hit 44, however with Russia to worry about now, in addition to the far east, we could, again, we could be down again on Friday.
I'm concered about the strength of the US dollar. That may provoke other countries to weaken, and their exports particularly Japan will take a hit possibly next weak.
Nevertheless, I believe we saw EMC hit its low for this quarter. It will probably tinker between 42 and 45 for a couple of weeks, then if the market moves up around 9000, I see EMC pushing 45 to 47 in a month, then drop down again around 44 again. a week befor e the quarter closes you will see a drop. Then EMC will reach 50-52, if the market still stays in this sideward trend, which I believe it will. I don't see this as a bear market.