Replies to post #1062 on General Stock Ideas

[bigworld]

FOOD: I can't predict tomorrow. I think the week will be weak unless they can somehow manufacture a good jobs number on Friday without cramming it with rehired census workers and phony adjusted numbers. But the equity markets all over the globe are in a swoon. The 10 year Treasury is under 3% now. That is down from 4% just a little over a month ago. That signals deflation coming in a big way. Very little good news is available to drive this market higher at this time. The bias is still definitely on the downside, at least until we take out 1000 on the S&P. I'll cover my short positions at that time and go long for what I assume will be a retest of the recent 1110 level that represented the recent 200 day moving average. In my view 1150 would be the absolute upside to any relief rally. The previous high of 1219 will hold for years. Perhaps as late as 2017. The next leg down will take us to @ 900 on the S&P in the fall. Next year the markets are in for more pain as we stair step down to at least 500 with the outside chance of reaching 400 on the S&P by 2012.
You're living during the Great Depression Part II. You can tell your grandkids about it.