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Re: Investors waving fear flag  

By: Decomposed in ROUND | Recommend this post (1)
Thu, 04 Aug 11 9:33 PM | 81 view(s)
Boardmark this board | De's Test Board 		Msg. 34269 of 45644
(This msg. is a reply to 34240 by Decomposed)
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re: Yesterday's post #34240

I dodged a bullet in my career as a psychic. Yesterday I wrote, "If it remains down at the close, I think it will be due for a bounce, probably tomorrow."

I'd have been eating crow right now, except that the market had its first UP day in more than a week yesterday, rising a scant 30 points. (it was down nearly 200 when I posted.)

As is now obvious, the Dow will *not* be bouncing today. It's down 326, and I'm just wondering what will happen over the next two hours. *MOST* of the time, the market comes back strong in the final two hours when it's had a day like this. This time, I'm not so sure.

In any case, I am standing by the second part of my post: "Long term, though, I think a 1,000 - 2,000 fall (from current levels) is coming. That's at a minimum. I don't know if we're going to the sub-7,000 levels the way we did in 2008, but I'm not going to rule that out, either."




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Investors waving fear flag
By: Decomposed in ROUND
Wed, 03 Aug 11 8:19 PM 		Msg. 34240 of 45644

The Dow is down triple digits . . . AGAIN.

If it remains down at the close, I think it will be due for a bounce, probably tomorrow. Long term, though, I think a 1,000 - 2,000 fall (from current levels) is coming. That's at a minimum. I don't know if we're going to the sub-7,000 levels the way we did in 2008, but I'm not going to rule that out, either. 

Aug. 3, 2011, 12:10 p.m. EDT

U.S. stocks extend slide on slowdown data

By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) — U.S. stocks fell sharply Wednesday, extending a slide that could prove the longest in more than three decades for the Dow Jones Industrial Average, as worries about the recovery escalated.

“The market is more focused on the economy than anything else, and what we’ve been getting here is data that is slower,” said Stuart Freeman, chief equity strategist at Wells Fargo Advisors.

Extending its longest losing streak in roughly three years, the Dow industrials /quotes/zigman/627449/delayed DJIA -0.89% fell 102.82 points, or 0.9%, to 11,763.8. A lower close would be the blue-chip index’s ninth straight, its longest losing stretch since 1978.

The Standard & Poor’s Index /quotes/zigman/3870025 SPX -0.75% declined 9.38 points to 1,244.67, extending its losing streak into an eighth session.


Full story: http://www.marketwatch.com/story/us-stocks-struggle-after-economic-data-2011-08-03

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