Is this the beginings of a decent pull back. I have to think the second quater reports are not going to be as rosie as people thought. Despite Obama's best efforts to keep the market up I think this maybe the onset of a good 1,000 point pullback. I believe this market should settle in around 7,250-7,500 for the third quarter this year. I have been wrong on multiple occasions in the past though. Whats everyone else's two cents.
Is this the beginings of a decent pull back. I have to think the second quater reports are not going to be as rosie as people thought. Despite Obama's best efforts to keep the market up I think this maybe the onset of a good 1,000 point pullback. I believe this market should settle in around 7,250-7,500 for the third quarter this year. I have been wrong on multiple occasions in the past though. Whats everyone else's two cents.
Like you I have been wrong multiple times in the past.Anyone who claims otherwise is either a liar or a person who has never invested in anything.
That being said...I see no reason whatever to expect the American consumer to recover from losing trillions of dollars.The stimulus package was/is ineffective and generally a waste of money, (most not even spent, and most misdirected) but it has bought some time for the banks.that is about it.The consumer does not get revived.Until unemployment stops rising, and it is understated routinely by the government anyway (notice how they now say they are "going to save or create" x number of jobs, never "create" by itself...convenient, in that you can't prove that jobs have been "saved")...so, at best, I see a sideways market, but in truth I expect to see a decline.Of course, like everyone, I would prefer to be wrong in this case.
Like you I have been wrong multiple times in the past.Anyone who claims otherwise is either a liar or a person who has never invested in anything.
That being said...I see no reason whatever to expect the American consumer to recover from losing trillions of dollars.The stimulus package was/is ineffective and generally a waste of money, (most not even spent, and most misdirected) but it has bought some time for the banks.that is about it.The consumer does not get revived.Until unemployment stops rising, and it is understated routinely by the government anyway (notice how they now say they are "going to save or create" x number of jobs, never "create" by itself...convenient, in that you can't prove that jobs have been "saved")...so, at best, I see a sideways market, but in truth I expect to see a decline.Of course, like everyone, I would prefer to be wrong in this case.
KOAJ's FAZ play working nicely. up about 25% from last thursday and definate break down in the gamers. been short both BYD and LVS and up over a point in each. both charts look like they could join MGM in the low $6 area esp LVS breaking a support @ $8
thank you KOAJ for the extra $10k in my IRA.
after a big percentage run last week the solars are getting hit. IF they get beat up TOO bad, I may go long some ESLR (around $2)and AKNS (close to $1). probably better to catch an upswing than pick a bottom right now.
EFTC back down to 1.40 looks interesting. it's a piss on the rug dog company BUT has had tradeable bounces three times in the last three months from this level BUT wouldn't go bottom fishing there either right now.
KOAJ's FAZ play working nicely. up about 25% from last thursday and definate break down in the gamers. been short both BYD and LVS and up over a point in each. both charts look like they could join MGM in the low $6 area esp LVS breaking a support @ $8
thank you KOAJ for the extra $10k in my IRA.
after a big percentage run last week the solars are getting hit. IF they get beat up TOO bad, I may go long some ESLR (around $2)and AKNS (close to $1). probably better to catch an upswing than pick a bottom right now.
EFTC back down to 1.40 looks interesting. it's a piss on the rug dog company BUT has had tradeable bounces three times in the last three months from this level BUT wouldn't go bottom fishing there either right now.
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