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sorry for all the posts. a recession has never hit the bottom and then experiences 6% or more a day growth(like we are now). that would be impossible. you will know you have hit the bottom when we start rising to the top slowly, like 0.8 percent increases daily.
This looks like shorts covering giving more room for the those who didn't cover to short more. Dow stopped at the 21 DEMA today so can the bulls power past this resistance to scare more shorts into more covering will be answered soon.
it does look like the volume dropping over the last 2 days would tend to point more to a bear rally than a new bull market. the bulls point to the Lowry's 90/10 up days as evidence of a new bull market, but even Lowry's discounts their importance in the current market environment.
Increasing foreclosures, increasing unemployment, gas price increases leading to a slight retail sales gain. Then a few companies say they are okay financially and there's a 2 day market jump. Nearly eveybody said this was a bear market rally. A little bad news and it'll drop 300 points again in one day.
It could go up over 8,000 but there are still many scenarios where it drops to 5000 by summer. If you think its a real rally, go buy GM and Citibank.
Me, I'd rather know where Madoff stashed those millions or billions and who he's cutting a deal with so his family and friends can keep a good percentage of it.
I don't understand how Citi and GM can go from the verge of nationalization and bankruptcy to solvent and profitable in 7 days..that one still boggles my mind.
hope you guys listed to me tell you not buy. the dow is down 60 points and the people on the news are worried about a serious crash (cnbc). oh well, i tried to warn you. idk if it will be up by 4pm but its not looking good.
I don't understand how Citi and GM can go from the verge of nationalization and bankruptcy to solvent and profitable in 7 days..that one still boggles my mind.
Thats because they didn't. It's all smoke an mirrors IMO.
hope you guys listed to me tell you not buy. the dow is down 60 points and the people on the news are worried about a serious crash (cnbc). oh well, i tried to warn you. idk if it will be up by 4pm but its not looking good.
Bah..we're fine. The market is UP 2 points
Still counts for a rally..doesn't it ?
"I was fortunate enough to secure a
position in one of the important banks in New York and lived there. I
lived through the conditions which led up to what is known as the crash
of 1929. I witnessed what was tantamount to the collapse of the
structure of the United States as a whole. <br>
Much to my surprise, I was confronted by my
superiors in the middle of the panic in which they were immersed. I was
confronted with the question: ;Norm, what do we do now?; I was thirty
at the time and I had no more right to have an answer to that question
than the man in the moon. However, I did manage to say to my superiors:
;Gentlemen, you take this experience as proof that there's something
you do not know about banking, and you'd better go find out what that
something is and act accordingly."
-Normon Dodd.
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