Replies to post #169831 on SwingTrade Member Forum (SWING)

[MSGI]

OK, I'll buy the 8,162 as a bottom. The Dow chart shows that there is support somewhere between 7500 and 8,000. Maybe we get lucky and 8,162 is the bottom. Fast Money clowns had a chartest on tonight that said we are in the 5th inning of a nine inning game. The problem with 8,162 is that we could hit that tomorrow with a really bad day and time wise we still have 4 innings to go.

[Rawnoc]

When the Dow hit its Great Depression low in 1932, it was equal to the same level it was in 1921, giving back 11 years of gains at its worst point.

If the Dow does that, it will be at Dow 8,162 about that I calculate. We're trading in relation to historical Dow levels in a Great Depression manner.

Put another way, if the Dow hits 8,162, anybody who bought and held in 1997 will be at break-even which was the same point that anybody who bought in 1921 and held to the Great Depression low found himself at during that point in time.