"I think we will close up on the day today and that the market will begin to rally in ernest tomorrow. The rally from current levels should carry the averages to new bull market highs later this year."
Carl Futia
Started by
selecto
, Aug 06 2007 10:38 AM
9 replies to this topic
#1
selecto
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Posted 06 August 2007 - 10:38 AM
Carl Futia says the 2007 low is in today. Now that's what I call a call.
"I think we will close up on the day today and that the market will begin to rally in ernest tomorrow. The rally from current levels should carry the averages to new bull market highs later this year."
"I think we will close up on the day today and that the market will begin to rally in ernest tomorrow. The rally from current levels should carry the averages to new bull market highs later this year."
#2
eminimee
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I don't care who's fur is flying...
Posted 06 August 2007 - 10:41 AM
that wouldn't surprise me at all...
#3
denmo83
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Posted 06 August 2007 - 10:44 AM
Carl Futia says the 2007 low is in today. Now that's what I call a call.
"I think we will close up on the day today and that the market will begin to rally in ernest tomorrow. The rally from current levels should carry the averages to new bull market highs later this year."
Don't know Carl, but would have been more dramatic if that statement was made in March. Just my 2 cents.
#4
ogm
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Posted 06 August 2007 - 10:49 AM
Well, if put/call is still anywhere near a reliable indicator, we should be very close.
$WPCVE pushing 1.5 all day today again.
We're at extremes around 2002 lows on some other measures. (See thread below)
There is no lack of fear.
Everything that has even remotely to do with real estate is getting sold into oblivion, like real estate is obsolete.
Watch the financials, though... Banks are green today, and Brokers trying to recover too.
I wish we had a big swoon at the open, though, just to clear some margin calls. But we should be getting close, otherwise.
#5
Frac_Man
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Hank Wernicki M.A.
Posted 06 August 2007 - 11:36 AM
it's a minor bottom ..... until mid August then we can evaluate the trend at that time
stated that on this board too ..... who's Carl ??
stated that on this board too ..... who's Carl ??
Carl Futia says the 2007 low is in today. Now that's what I call a call.
"I think we will close up on the day today and that the market will begin to rally in ernest tomorrow. The rally from current levels should carry the averages to new bull market highs later this year."
#6
thespookyone
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Posted 06 August 2007 - 11:38 AM
No guts-no glory-NICE call.
#7
ZIDANE
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Posted 06 August 2007 - 01:01 PM
The rally from current levels should carry the averages to new bull market highs later this year."[/i]
I agree and disagree. We are nowhere close to a bottom, that won't come till at least 2362. From there we could possibly see new highs by the end of the year (Nasdaq 3k?). Today was not THE bottom. This is a countertrend rally in an IT Bear Trend. At best we hit 2575 (+/-25) then down to new lows. Enjoy the rally while it lasts!
#8
selecto
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Posted 06 August 2007 - 01:17 PM
Whose Carl?
I answered that question is some detail a couple of days ago, for whatever it was worth. Why don't you lazy bones stfw?
#10
thespookyone
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Posted 06 August 2007 - 04:39 PM
Bears seem just as confident here, as bulls did at the top, and now have tons of equity put buyers in the boat with them-not pretty. Trading as short term as I do, I have no need to second guess whether this was the bottom or not, but will say it got tested three times and held a zone, so far. As far as Carls call goes, he is also right, "so far". It is what it is-till it isn't.
