Replies to post #3880 on The House of Pain Economy & Stock Discussion Board (QID)

[ChrisJP]

Hi THI, thanks !

I'm not posting too much on this board at the moment because most of my warnings have already come to pass.

I still feel that the DOW, S&P 500, & NASDAQ will experience one more leg down, not sure exactly when, but I'm guessing it'll be bank-failure related. Or Obama victory related maybe ?

Even the optimists on TV are saying that even though the worst might almost be over, they have no idea when things will get better. To me that means that unemployment and over-capacity will put further drag on stock prices into 2009.

Typically our government enacts deficit creating bailout solutions to our economic problems so I suspect the dollar may also head lower again making gold a good asset to own.

As far as ELN, biotech stocks are a total mystery to me. Typically when stocks get slaughtered, they bounce but then the head back down and go even lower. My advice (which I seldom follow) is to wait for the 20 dEMA and 50 dEMA to stabilize.

Chris