If we close at SPX 820 today..
And we gap down to 800 on sunday.. do not buy the gap...
Just a possible scenario that could unfold. Because that day may see 500-700 dow down day.
So two conditions must be filled.
Close below 820, and gap below 800.
I'll just throw this out there..
Started by
dcengr
, Jan 30 2009 03:54 PM
12 replies to this topic
#1
dcengr
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Posted 30 January 2009 - 03:54 PM
Qui custodiet ipsos custodes?
#2
10Shekel
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Posted 30 January 2009 - 04:00 PM
I think you are calling for a crash?
#3
dcengr
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Posted 30 January 2009 - 04:02 PM
I think you are calling for a crash?
Crash? It didn't close below 820...
But 500-700 dow points is hardly a crash these days.
Btw, don't confuse me with Blustar.. I don't make it a regular habit of making large move predicts. My large move predicts are more correct than most.. but hell most are like .001% correct so I only need to be 1% correct
Edited by dcengr, 30 January 2009 - 04:08 PM.
Qui custodiet ipsos custodes?
#4
ogm
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Posted 30 January 2009 - 04:09 PM
Yes, a big down day is coming. XOM/CVX daily chart say so.
#6
unosuke
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Posted 30 January 2009 - 04:16 PM
Not to hijack the thread, but take a look at Textron Inc. (NYSE: TXT) and International Paper Co. (NYSE: IP)? They both broke down with qaulity of volume the last 2 days, A-B=C-D patterns down to $0. Both headed to bankruptcy. These are huge industrial companies.
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#7
humble1
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Posted 30 January 2009 - 04:27 PM
i wouldn't get too exited bears; this had to do with EOM settlement and hedge fund thingys.
#8
nicolasillo
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#9
ogm
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Posted 30 January 2009 - 05:22 PM
And Alcoa is head for BK.
#10
pdx5
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I want return OF my money more than return ON my money
Posted 30 January 2009 - 06:52 PM
Before y'all get carried away too far, civilization is not about to end.
If one company goes belly up, others will happily fill the void. The companies
get big, then they get fat and bloated with overhead and then they collapse
when an ugly recession hits. Smaller, leaner outfits take over the business.
Have you seen any shortages of goods or services in the market place?
Nope, I have not, which means producers are producing.
What we are witnessing is deflating of the debt balloon. The rate of deflation
has already slowed, as it always does when most of the air has leaked out.
The rate of drop in October & November was parabolic. Now 2 months have
passed since then and the market stubbornly refuses to test new lows. The
market is telling us most of the bad smelling air has already escaped. JMHO.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
