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Is this going to rocket launch higher ?


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#1 nimblebear

nimblebear

    Welcome to the Dark Side !

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Posted 24 May 2010 - 10:50 PM

Its sort of strange. Every nite it seems HSI and Nikkei have been down 2% or more. Same way tonight. Our futures as of this writing are showing: Dow down: -143 S&P500 down: -18 Naz down: -29 This has happened before but by morning, its in the plus column, as the invisible hand props up the market on low volume. I keep reading a bunch of different analysts and bloggers say prepare for the MASSIVE REACTION and BOUNCE to the UPSIDE ! and that 1050 is major support. Or 1020. Take your pick. and 9500 on the Dow is also the lowest this could go, before ramp job back to new highs. But WHAT IF ? What if this just proceeds lower and lower, until we start to have a sharper decline ? I dont think too many are expecting that, and it would surprise a lot of folks. The bears seem reasonably nervous here and have lightened up their shorts to RESHORT at the next big rise. What if they dont get that chance, and this thing runs away to the downside more. That would be frustrating for bears who haven't loaded up enough or are too scared by the whiplash theyve gotten from the bulls everytime there has been this minor dip. Im leaning toward more down here for awhile. But dang I just can see it rocketing up higher out of nowhere. Like ben is justing lying in wait to pull the trigger and bomb the shorts again. <_<
OTIS.