Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Thursday, November 20, 2008
U-turn Ahead
A few minutes ago the S&P's hit 752, having taken out the October 2002 low at 767.50. I think this market will pull a U-turn tomorrow and head above the 820 level.
Long term 600 is still a possibility, but with everyone taking the short side, we are due for a nice rally. Long term we will be in a bear market for several more years, but there will be a few very sharp rallies for the shorts to reload their positions.
4 comments:
what are your support levels below 752, just in case it does take out 752 and head lower?
Carl,
Whatcha gonna do now that we are 2002 levels???
I have said many times on here that the END of the world has finally come and we are all witnessing the GREATES MELTDOWN of the USA...
We have such GREAT minds here in the states that we just lost a decade of growth...
LMAO
any possibility of it going to 600? thanks.
Long term 600 is still a possibility, but with everyone taking the short side, we are due for a nice rally. Long term we will be in a bear market for several more years, but there will be a few very sharp rallies for the shorts to reload their positions.
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