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#1 NAV

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Posted 07 July 2010 - 09:15 PM

There's always someone who would claim. I (was the only one who :P ) predicted the top in 2000, 2007, 1987 et al. Just for fun, let's see how many of you get a medium term projection right. No Ifs and Buts allowed. The options are: 1) We topped out today. The sucker is done and it was a classic bear market squeeze. Short the crap out of it. We are headed for new lows. 2) We may have slightly more upside to the 1070-1090 area. But that would be a gift from the bear godz. We are headed for new lows from there. 3) We may see some pullback near term (or not), but we have started a multi-week rally which should take us above 1100, but not to new recovery highs above SPX 1220. We won't see new lows for a few weeks. 4) To the moon baby ! New highs above 1220 is a given. Roll your dice. Let's see how many of you get it right. Like Yogi Berra says, "It's difficult to predict, especially the future" :P I will go with option 3.

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#2 Akando

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Posted 07 July 2010 - 09:18 PM

2 I see us consolidate tomorrow and up on Friday, I will plan to short half a position at that time and wait until Monday to put on the other half.

#3 milbank

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Posted 07 July 2010 - 09:19 PM

I pick 3 as well. As far as fame? I prefer to stay Anonymous. I write my some of my best poetry and pithy sayings that way.

Edited by milbank, 07 July 2010 - 09:22 PM.

"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw


"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe


#4 porsche911sg

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Posted 07 July 2010 - 09:25 PM

Can i have option 2 and 3. If the results are bad i bet on 2 if results are good i bet on 3 I am 70% inclined to 2 and 30% incline on 3.
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!

#5 jdjimenez

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Posted 07 July 2010 - 09:30 PM

Right now I'm torn between 2 & 3 and think by Friday we would have a much clearer picture. I sold my SSO just before the close when it hit my 33.80 target, and didn't want to be long for Thursdays jobless claims numbers. Gun to head (without bullets), I'll take number 3. JDJ

#6 MikeyG

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Posted 07 July 2010 - 09:37 PM

Dos...

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"One soul is worth more than the whole world." 


#7 redfoliage2

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Posted 07 July 2010 - 09:39 PM

2 is the most likely, others also possible :D

#8 DrSP

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Posted 07 July 2010 - 09:44 PM

we have started a multi-week rally which should take us above 1100, but not to new recovery highs above SPX 1220


That is funny option. Multiweek rally to only below 1220?
You could be a billionaire or an industrial worker or a teacher or a moderator of a forum - Hold a good conscience because that is what matters.

#9 bankster

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Posted 07 July 2010 - 09:48 PM

I'll go with #2. Current price action looks just like 2007. You can literally line up all the swing highs and lows.

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#10 DrSP

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Posted 07 July 2010 - 10:02 PM

bankster, move the boxes 1 square to the right. I am skeptical that we will see 1250 on $SPX and then bust.
You could be a billionaire or an industrial worker or a teacher or a moderator of a forum - Hold a good conscience because that is what matters.