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Thank you. If you are referring to the DOW I think we could see a manic climax in the 30K-35K range.
Usually the rebound never breeches the previous high before falling again. I doubt we will see Dow 30,000 before the real fall comes. Nonetheless, it could certainly go much higher than current levels on the "sucker's rally".
I just hope that not too many people are hurt by this rally and throw in the kitchen sink, only to get whipsawed again. I would hope that these are just traders making a short term profit and killing the shorts (who have it coming anyway).
I just hope that not too many people are hurt by this rally and throw in the kitchen sink, only to get whipsawed again. I would hope that these are just traders making a short term profit and killing the shorts (who have it coming anyway).
Hawkeye, yes, someone asked me on this forum about this topic on the move from 18K-22K. At +/-22K they asked me if it was a buying opportunity. I said it depended if they were a shorter-term trader or looking at the longer-term. Shorter-term traders made/will make money off this manic up action from 18K. Longer-term traders will get burned further here in the bust. I think a lot of longer-term investors are still on the sidelines and will jump back in with further manic up action. They will be destroyed even further in the bust. After the bust I don't think we will revisit highs for 10+ years.
There’s no way we are going below 19K again. None.
please share what you are basing this on.
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