Just about judgement day

This market is sick. Very sick in fact. Antibiotics are being pumped in faster than at any point and time in history. But so far...nothing. I'm sure Dr's Bernanke and Paulson are sweating bullets. The patient's not responding to treatment. And the next 24 hours could tell the tale. The two numbers in the S&P you need to watch are 840 and 788. 840 may break but 788 better hold because if it doesn't, well.....it better hold. The pennant formation says it won't. It says the low could be 615 or lower depending on how you count the pattern. The Dow points to 6,300 or lower. No joke. I do believe it'd be a buy at that point for a nasty reflex bear market rally that'll be breath taking to watch. Pick your spot but be careful. I believe buying at 788 and getting blown out won't matter since I think any move into the low 600's will be short lived. The snap back will blow right back past 788 on it's way up. But it'll be nerve racking to sit through. It'll feel like the bottom is zero, or maybe lower! Then BAM!! The market will roar to life and make fools out of everyone who sold out at the bottom. That's the way it works. Nailing the bottom tick is going to be impossible. Remember, you don't want the top and you don't want the bottom. You want the juicy middle. Any how, judgment day is just about here for this move. It's ready to show it's hand.
 

What did you think of this article?




Trackbacks
  • Trackbacks are closed for this post.
Comments
  • No comments exist for this post.
Leave a comment

Comments are closed.