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1% Correction

Started by denleo , May 21 2007 11:56 AM

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11 replies to this topic

#1 denleo

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Posted 21 May 2007 - 11:56 AM

1% Correction is coming our way. It will wipe out 10 to 15 S&P points. It will be scary. Be brave. It should start around these levels. Denleo

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#2 89S10

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Posted 21 May 2007 - 11:59 AM

Is this based on a intuition,a comglomeration of indicators, a single magic bullet indicator? Because S&P cash exceeded the previous closing high (so I am told)?

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#3 Tor

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Posted 21 May 2007 - 12:04 PM

Maybe we will see a mini parabola!

Observer

The future is 90% present and 10% vision.

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#4 denleo

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Posted 21 May 2007 - 12:06 PM

It is based on lack of short-term momentum, short-term internal divergences, intuition and the fact that S&P is trading above all time closing high. So a 10 point correction would be a buying opportunity. Denleo

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#5 Mr Dev

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Posted 21 May 2007 - 12:18 PM

It will be scary. Be brave. It should start around these levels."

It is based on lack of short-term momentum, short-term internal divergences, intuition and the fact that S&P is trading above all time closing high. So a 10 point correction would be a buying opportunity.

Denleo

If only 10points that would then put it at less than a 1% correction......and those really are not that scary.

Edited by Mr Dev, 21 May 2007 - 12:18 PM.

.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!

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#6 Bandit

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Posted 21 May 2007 - 12:27 PM

1% Correction is coming our way. It will wipe out 10 to 15 S&P points. It will be scary. Be brave. It should start around these levels.

Denleo

Thanks- For the heads up!! I will be prepared to ride it out as I can not day trade in my 401K accounts. I still am looking at 6/5 for some kind of top.

Bandit

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#7 denleo

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Posted 21 May 2007 - 12:32 PM

10 to 15 points is the most bears can do. So 1% or 15 points is what 10% used to be many years ago. Denleo

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#8 Mr Dev

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Posted 21 May 2007 - 12:35 PM

10 to 15 points is the most bears can do. So 1% or 15 points is what 10% used to be many years ago.

Denleo

Huh ...the bears can do?
So if People start selling and a scary .75%-1% decline is seen then,..they are...bears?

Yes a 15 point correction was 10% scary move when the S&P was at 150. points,..and yes that was many years ago.

How does this relate to anything today ? I'm sorry for not following you but I'm trying to understand your point.

Edited by Mr Dev, 21 May 2007 - 12:39 PM.

.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!

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#9 denleo

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Posted 21 May 2007 - 12:45 PM

My point is that more than 15 points right now would be a huge surprise to me. It would feel like a bear market. Spooz just dropped 3 points while we were talking. It is already feels oversold.