So we went from a starting bank of 20K to 50K?
Sorry......haven't been able to pay much attn at all...to both this board as well as the exchange. Doin all I can these days just to follow the major mrkt indeces & the basic flow of financial news.
Having said that....could we be seeing a head fake here the last few days w/the 3 majors (Dow, Naz, S&P) or does shorting over the next 3-4 months seem like a good idea?
My .02 cents (worth maybe 1/2 that.....but I will say this I do recall calling 12,750 on Dow approx 5-6+ weeks ago.....think I did that here right around 14K...not sure tho if it was here....maybe someone recalls?) the fundi's still dont add up & just the fact alone that Fed is feelin all this pressure to cut means they aint too confident about things to come either. The last 4 days of green could be attributed to mainly 2 things
1) Bottom fishers...tho admittedly there does seem to be several decent blue chip/cream of the crop quality out there at present...at least over the long haul.
2) Hopes of another fed haircut
& as we've seen in the recent past....a rate cut may help for a few days....maybe a week or so.....but over time, we all know that it aint gonna fix a thing....like using a bandaid when what you really need is a few stitches. :0
I'm still thinken there's some room to go as far as a total correction goes. 12-12,250 before 14K is a call I can side with. '08 should be a yr of uncertainty for the US w/the election looming, the dollar lookin for its' bottom, maybe a few more fed cuts, etc.
So I gotta ask myself here.....considering all this, how on earth can the 3 major indeces get any real momentum going?
As far me...as much as I love volatility, I don't really like it at all when it's in broader indeces tyvm! Let's keep the volatility to the 4X & be happy w/that...lol
I'd realistically like to see '08 be a yr of stabilization
(I'm still a 'lil' weary of the "R" word however) in the US...something to build a strong new new base on....like a steady range in the 12,000-13K neighborhood...wait for all the dust in Nov to settle & then comeback w/a vengence in '09 bustin the door down right thru 14K & beyond.
Considering all the news that's out there now I'll be quite pleased if at all plays out this way...my fear however is that I might be painting a rosey picture.....sure hope not.
Cheers!!
