Thursday, November 20, 2008

Where IS the bottom ????

Markets sank to closing low in several years or even MORE than a decade......

Oil slumped to new LOWS....

Louise Yamada Technician NOT convinced that we are even close to any LOWS......she is predicting S&P 500 first to 600 then to 400......

New 52 week LOW list hit a more than CAPITULATION low of 1402 on NYSE & 1204 on NASDAQ......this SMELLS like a near term bottom to me...BUT what do I know.....

MOST stocks are trading @ levels even die-hard BEAR would NOT have predicted only 3 months ago......

Yes...there is recession in US & Europe..but most of the world is seeing GROWTH of as high as 9% in China & even India.......

Are financial markets too PESSIMISTIC......looks like it......

We have discounted most stocks to DEPRESSION levels...Is It JUSTIFIED????

BLOG does NOT give buy or sell.

Saleem
at

5 comments:

  1. madmaxNovember 21, 2008 at 4:06 AM

    Morning to all
    Green is my color today
    YES!!!!!!!!!

    Looking for recovery

    Take a gander at C--they were pumped by Bloomberg last night--sounded good

    Lets make some money

    ReplyDelete
  2. Stocks100November 21, 2008 at 5:42 AM

    Hi Madmax,

    GREEN is good !!!

    Saleem

    ReplyDelete
  3. madmaxNovember 21, 2008 at 6:03 AM

    To all

    here is a funny on FRO--Huge oil shipper and pays 49% divi

    Laugh please humor http://www.youtube.com/watch?v=oIB-ymy1bkU

    ReplyDelete
  4. standardshighNovember 21, 2008 at 7:24 AM

    Hi All,

    No depression prices are not justified. Why should the China market plunge when their growth is +9%??????????? Why the big plunge 6 months ago? All related to fear. People are scared. No confidence. Life goes on. Buy bargains.

    ReplyDelete
  5. Stocks100November 21, 2008 at 8:15 AM

    Hi Standards,

    TAPE has been pathetic & continues..

    FEAR has gripped traders/investors NOW...unless that changes markets are going nowhere....imho

    Saleem

    ReplyDelete