S&P 1291 Key to Market's Short-Term Fate, Says Raymond James' Saut

Hi Aaron and Henry: Enjoyed "blogging" this week. Hope you have a nice weekend. Noticed yours and Henry's new hair cuts. Henry's was a little too close cut and yours hit it just bout right.Thanks, Jim

it is all a bunch of crap! save your money!

1291? Not 1293? Boy, this guy must be really, really smart. How DO they know this stuff?

market manipulation, by the fed . Its the fixed ball game stay out of this market unless you have inside info fro someone in side the fed or the treasury.

What a doofus. Everyone who belongs to the Church of Numerology knows that the real magic number is 1292.76.

1291 is a "resistance" point, based on previous market action. Looking at an S&P chart, 1291 was reached from lower levels but not breached on 3 days: 7-2, 7-23 & 8-6.

I disagree with his guess that some financials are at lows. I think it's way too wild to make any bets on them. I think many of them, Wachovia included could go as low as previous lows.

The market is a joke short term. I wouldn't put any money in this long term.

Ahh, yes, yes, a "resistance point." So that one point from 1292 to 1291 is really, Really, REALLY important. Let's say we had had one more random event (among many billion random events) on 8/6, like an erroneous posting on Drudge at the end of trading, that caused the market to briefly drop a couple of points, that means getting to 1291 today isn't so earth-shattering? This is deep metaphysics indeed.

where's Aaron's sidekick, Henry? Was he out getting another haircut? Speaking lessons? Education on the market?

Market is awaiting another perfect storm - Hurricane season is just starting to pick up, Israe/Iran next, then OPEC reduces output, and wild Turks and Nigerian rebels keep disturbing output flow/blowing up pipe lines ------ Oil back over 150 by November ------ No consumer discretionary for X-Mas shopping ------ Retail getting spanked 4th quarter -------- NO GROWTH and a formal acceptance of recession! Dow 10,000 in 6 months, lock it up!

I've seen plenty of resistance points that were blown through by a few points indicating a continuation only to abruptly reverse course. These prognosticators swing for the fences, for notoriety or to increase their perceived value to clients. Stocks have advanced as debt writedowns are imploding and debt itself is imploding.GM and Ford advance as GM and Ford debt trends downward due to banpruptcy fears. Makes no sense since debt emerges from bankruptcy fairly intact, while equity is often worthless. So short the markets. Dow 8,300 by this time next year.

I've seen plenty of resistance points that were blown through by a few points indicating a continuation only to abruptly reverse course. These prognosticators swing for the fences, for notoriety or to increase their perceived value to clients. Stocks have advanced as debt writedowns are imploding and debt itself is imploding.GM and Ford advance as GM and Ford debt trends downward due to banpruptcy fears. Makes no sense since debt emerges from bankruptcy fairly intact, while equity is often worthless. So short the markets. Dow 8,300 by this time next year.

The market seems pretty knee jerk. I keep wondering what the next bubble will be and when. With global derivatives unsustainable it's bound to happen. I do believe the market does want to go up and any excuse sends it flying.

The market will rise at the expense of small investors. Our 401's are still increasing but keeping the money in a(safe) enviroment at 2%, just seems stupid. I'm not losing money, but because of the continued contributions, I just break even or lose a little. Since riding the fence this long I feel like if I take everything and put in Money markets or bond funds, all the funds I'm down in will get big pops and I will feel stupid for not leaving things as they are even as I continue to lose money.

VERY UNPROFESSIONAL to guess at 1291. He said on cnbc that it is a bear market and he is only renting stocks and now 1291 is ok? He keeps mentioning WB. Which is the 4th time this wek but never mentions fundamentals for why he bought it.. If he is so good like with his WB trade ...WHY DID HE MISS THE DOLLAR RALLY? He said he dropped his dollar bets in the 4Q of 2007. His 1291 and his repetitional mention of WB (4th time this week ) must be a trigger to get some new phone calls for new clients. He never mentions fundamentals,data ,statistics,solutions, earnings revenues, balance sheets. Its all hit or miss. He told Maria B on CNBC today that he is renting stocks and would not invest in them. But 1291 is ok then? It is not professional. . It is all hit or miss. Sorry. I need facts and I need the problems addressed and the solutions and the pure genuine reason which makes 1291 the right number. Especially when the problem is no one knows what anything is accurately worth on the balance sheets. But all of a sudden 1291 is ok? Sorry, give me some solid information. Sounds like 1291 is a trigger to get more clients to call to open accounts.

hold on to your money. don't let "big money" take your hard earned savings. the dow was 11,400 two years ago and 10,000 ten years ago. as of yesterday, the dow was up about 300 points from two years ago.

Wonder what will happen to the market when the impact of the new and dangerous Russian/Georgian war begins to wind its way through our psyche. If oil rich Russia doesn't scare us, they should. This is yet another reason to subsidize alternative fuel and energy renewables. We promised to support the Georgians, Putin is aware we have been reduced to a toothless tiger and are unable to help the Georgians. Help me please, am I all wet on this?? The dinosaur,,,,I am expecting great grand children, twins; I want them to be well and prosper. I am particularly concerned for mine and other's kids and grandkids.

Time to go bargain hunting on some of the asset managers..they are the best place on the financals//

Take a risk and buy stock in a bank. Pick one that's cheap. I paid $250,000.00 in cash for a house in Florida a couple of years ago after shares of a stock in a bank purchased at the height of the Savings and Loan crisis in the 80's. My cost base was $10,000.00 and the stock was First Federal Savings and Loan. This is a buying opportunity for anybody with the time to wait it out. Some of these bank stocks are absolute steels Go for it. In two years it will all be history.