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Tuesday, December 9, 2008

Rally or Just a Bounce? Update1

This is an update to Rally or Just a Bounce?

Expect a bit of a pullback this morning to work off some of the overbought readings. However, a break OUT and UP looks to be in the works.

Perma-Bears are gonna get a vicious nutshot...

Hey, it’s not just me:
Afraid To Trade: Elliott Wave 4 Rally Appears Confirmed – with targets
Corbra’s Market View: The First Higher High
Evil Speculator: Triangle Trouble


Anonymous said...


The S&P is going to easily reach 1,150 to 1,300 soon.

Anonymous said...

I sincerely hope that we don't see the S&P at 1300 so soon. The 1200-1300 level is clearly not a sustainable level given the general breakdown in the macro situation. If the momo traders indeed take us to those levels, then we'd be emulating the chart patterns from 1929-1930. Down the road lies a very nasty downturn that will absolutely decimate the social fabric. I feel like some people are partying like it's 1929 (on steriods).

Anonymous said...

we need a good rally to load up(on short etf's) for the big crash in jan/feb.....just go on vacation til end of year....any extra money you make right now just gets eaten in taxes anyway....

Anonymous said...

S&P going to 780 or worse before it goes higher

Anonymous said...

Government officials initially sold the program to lawmakers and the public as a way of purchasing troubled assets from financial institutions. Treasury Secretary Henry Paulson quickly scrapped that plan and has instead decided to use most of the money to buy equity stakes in banks.

Congress could move to block Treasury's access to the second half of the $700 billion fund, a prospect that government officials fear could send financial markets reeling.

Hope Hanky Panky gets his money might be kind of a kick in the balls for the Bulls if he didn't.

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