Here is an image of today's front page of The New York Times. The headline says "Mortgage Losses Echo in Europe and On Wall St. ". It is accompanied by an intraday chart of the Dow Jones Industrial average showing the price fluctuation for the preceeding 10 days.I think the market has been hit with a lot of bad news and scare mongering over these last 10 days. Today's headline offers only the latest reason to panic. What I think is interesting about all this can be seen in the Times chart of the Dow. Notice that it has barely moved lower during these 10 days despite all the bad news that the market has had to absorb. I think this is a very bullish sign. It means that any respite from the news will set off a very strong rally. I also think this rally is about to begin and it will carry the averages to new bull market highs.
7 comments:
Is that a head & shoulders I see on the DOW. Oh well, one mans triumph of optimism is another mans PPT manipulation.
Rally into options expiration, followed by continued decline for weeks.
Yes this will sort it self out in a couple of months but we will see new lows before bull market hi's.
Just a little vix action.. that's all this week..
Carl's right, major indexes are all up for the week!
i guess it's volatility that scares some people, and we haven't seen anything close to average volatility for years up to the past couple weeks.
for whats its worth
the dow the spx the oex the ndx
all were up for the past week
question is , did the sky really fall ??
Lets just forget about all the negative hype and teach the shorts a lesson. Buy this market and squeeze them into option expiration.
The odds clearly favour a rally over the next 5 days. New highs by next month is my prediction.
nasdaq comp should outperform SP500 going forward
sure the market will go up.....look at all the liquidity that was pumped into the system....but so will inflation...the dollar will fall....so will the market go up in "real terms"?
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