I'm interested in the test of the Aug 04 low..
http://stockcharts.com/c-sc/sc?s=$SPX:$VIX&p=W&yr=10&mn=6&dy=0&i=p45886761752&a=112837588&r=4558.png
SPX:VIX
Started by
eminimee
, Aug 05 2007 07:35 AM
2 replies to this topic
#1
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 05 August 2007 - 07:35 AM
#2
traderpaul
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Posted 05 August 2007 - 09:24 AM
Emini, I am looking at 1150 as min target on the SPX.....max 790.....
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#3
ogm
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Posted 05 August 2007 - 09:32 AM
Emini, I am looking at 1150 as min target on the SPX.....max 790.....
1350 will be a big support. Trendline of the last bear market low.
however I still think we'll see a rally before that. Financials are looking very oversold now. Banks with clean balance sheets and 5% dividends aren't in a big trouble here.
They are very well capitalized, diversified and so on. Yes, their business may slow a bit, but something like DB or BAC aren't going out of business anytime soon.
The discussion now is about book values.. when you start reading stuff about book values, means fear and deep discounts.
Take a look at BAC for example.. 1.6 times book, 9 P/E, 5.40 dividend yield. A lot has to happen to knock this stock down much further...
Edited by ogm, 05 August 2007 - 09:37 AM.
