SPDR S&P 500 (SPY): Hi Ravi Next week shu...

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Re: RAVINASA post# 74104

Tuesday, 03/03/2009 7:35:39 AM

Tuesday, March 03, 2009 7:35:39 AM

Hi Ravi

Next week shuttle fight should be again really great to watch. My thought is that Gld will test the lows, if the markets reverses the next couple of days, the more equities declines the more those that are hedging their accounts will have to sell to pay down margins etc. If it breaks the ABC down target, then the bear claws go on. The target is the target for now, but if it breaks the swing, then the lows will probably be tested. This downturn will probably be "the major bottom" everyone is looking for, with all the destruction that is causing and the giving up of most.

Buy 'em when they are crying, sell them when they are yellin'
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http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID456385

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