Markets are again in a bearish mode......
S&P 500 is the weakest so far while NASDAQ & Dow down around 3.75%......
Credit markets & LIBOR are NOT easing up....which IS putting pressure on markets.....
This IS a surprise to me because world treasuries are doing their best to put a dent in these rates....
In my portfolio :
PHM Down $1.40
NDN Down 7 cents
SOL Down 51 cents
RIMM Down 90 cents
UYG Down 70 cents
@ 11.54 AM following are green in my watch list :
AAPL,ABX,DUG,SDS,DXD,QID......
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Look back at the charts for the dot.com bust. There was an initial spike up then a drop off to new lows. Followed by another spike up. Media and pundits having their way with the so-called bad news. Humph! Anyone else want to chime in here?
Standards
Hi Standards,
Thanks for your recollection of tape during tech bubble.....
Markets normally behave in a stircase fashion....UP,DOWN & UP..
I stil firmly believe that we have seen the LOWS for this bear market..
Today's low COULD be the retest and then stability....
So far the low on Dow is 8902.72...
The real question is what level on Dow is successful retest....
Saleem
Hi Saleem,
Yes these markets are volatile.
I'm thinking we may go down to 7500.
We may have just seen the left shoulder in a head and shoulders pattern on the down side.
Just my thoughts.
Have a great day.
Hi Standards,
Low on Dow is 7773.71....
You expect it to pierce that by 273 points....
Anything is possible.....
I try to follow markets from fundamental point of view...which MAY have lot of HOPE built in it..
So ....we watch the markets & see where it goes.....
Saleem
HELLO all
You are all depending on chart action
I am looking at the financials they are one sick puppy
America is in denial and NO one has offered a solution for a fix
Stay the course but the divi plays like FRO - DSX- MON- JNJ, PWE--etc are good bets here,
AAPL should have blasted on the news of product release - it always pops on news
I am getting a headache from the up and downs
It is way to fragile of a recovery to pick plays
Just my .02 cents
M
Hi Madmax,
Your 2 cents is pretty good.....
Alway's follow what makes you comfortable.
Saleem
Info from a sight I use.
A lack of volume gives indication of less conviction from the Bears.
Be on the lookout for a Follow Through Day (FTD) to get a sign of institutional support for the long side of this market.
It would come beginning Thursday, with one of the major indexes posting at least a 1.7% move with volume greater than the previous days. FTD's come between 4 and 11 days of a potential low.
And if we don't get it, we'll assume that down is the path of least resistance.
Victor
PAINTer
What an astute statement
Thanks I am so tired of doom and gloom
FTD yes lets see what Thursday brings
Hurray maybe up from here
M
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