7 replies to this topic

[isaac613]

qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.

[eminimee]

why? got anything technical?..or is that based on your funnymental take of things

[S.I.M.O.N.]

qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.

i got a projection for around 41, but mid sept, twt.

[redfoliage2]

qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.

Absolutely it will not tank because it got the Fed behind it (if you heard what Senator Dodd and Ben said after their meeting, they will do everything to support the financial market). The whole thing today is just technical. Near term in a few days, market will go higher. Look at the chart which clearly shows consolidation at the high:
http://stockcharts.com/c-sc/sc?s=$SPX...2444&r=3836

Edited by redfoliage2, 23 August 2007 - 02:05 PM.

[redfoliage2]

qqqq going to go to $43 very soon. I think by end of August. This market is very poised to break down.

Absolutely it will not tank because it got the Fed behind it (if you heard what Senator Dodd and Ben said after their meeting, they will do everything to support the financial market). The whole thing today is just technical. Near term in a few days, market will go higher. Look at the chart which clearly shows consolidation at the high:
http://stockcharts.com/c-sc/sc?s=$SPX...2444&r=3836

HaHa, SPY and DIA became green now. What a day. If da boys gap it up to clear the resistance tomorrow .....

Edited by redfoliage2, 23 August 2007 - 02:30 PM.

[SandStorm]

I think we go down one more day tomorrow. After that I am not sure. It's tricky as hel* this market is. It's bumping against obvious resistance like major fib retraces /sentiment, etc but still it holds. Yesterday, for example, wtf, but it was merely a shakeout.

[redfoliage2]

I think we go down one more day tomorrow. After that I am not sure. It's tricky as hel* this market is. It's bumping against obvious resistance like major fib retraces /sentiment, etc but still it holds. Yesterday, for example, wtf, but it was merely a shakeout.

shakeout!
I think that's the timely expression.

[thespookyone]

"HaHa, SPY and DIA became green now. What a day. If da boys gap it up to clear the resistance tomorrow ....." I fail to see the value in trading hope. If you are looking for "da boys" to make things better-they will only do so if it serves their interest (money to be made)-and I highly doubt they've let you know where their interest lies. Much like at the recent top of 1555, I'm starting to see more and more cries for "bears to capitulate"-as if that is what is holding the market back from a major upside breakout. What bulls truly need is BUYERS-more of them. My take is that the reason there are not enough buyers is UNCERTAINTY-which the market has never cared for. Did a handfull of major banks stepping up to the discount window to borrow money that they could have borrowed for about .75% less clear the air?-for about a minute it did. Did BOA loaning CFC money at basicly 1.5% ABOVE the discount rate calm everyones nerves? Uh, yea, until they put the slightest bit of thought into the picture that truly paints for CFC-and the probible reasons BOA put the money forward. The Fed-lets consider them. This is not the Greenspan led Fed that would easily have cut the Fed funds rate at the same time as the discount rate, and followed with many more to preserve market levels. This Fed looks much more like it wants to act as a central bank should-providing liquidity, but letting the market seek out it's own levels. Sure, they threw brokers a bone last Friday, but I don't think you can count on that becoming a habit of course, you can always hope.