dagblog - Comments for "Whaddya know?? Markets go up too! ... "

It was a pretty significant

michael — Thu, 12 Mar 2009 19:17:17 +0000

In reply to Whaddya know?? Markets go up too! ...

It was a pretty significant bottom we hit on Monday. According to my chart, Dow hit bottoms of 3 channels at the same time, so it had nowhere to go but up.

Short-term channel is going up, mid-term channel is going down, and long-term channel horizontal.

So, my prediction: going up inside short-term channel until reaching its top, then going down until reaching mid-term and long-term bottom (which will be the double bottom around 6500 again), then the recession is over, and we are going UP!!!

In the very short-term, we just hit 25% of both short-term and mid-term channel, so it should rebound down a little bit, before breaking the barrier.

Wish I could attach my chart.

I have heard the rally was

Bluesplashy — Tue, 10 Mar 2009 23:57:54 +0000

In reply to since i started writing this

I have heard the rally was due to Citi being in the black. If that is true and Citi really isn't in the clear (as some others are saying) will the down turn exceed the rally?

since i started writing this

Deadman — Tue, 10 Mar 2009 17:05:06 +0000

In reply to Whaddya know?? Markets go up too! ...

since i started writing this piece, the rally has gotten more and more impressive ... but remember, some of the biggest most dramatic rallies come during bear markets as short sellers who pressed their bets get squeezed. the increasing velocity of this ramp up actually has me doubting even more how long this can last and whether we've hit the ultimate bottom. I can't envision that this - a big V-spike move higher - will be the manner in which we see the biggest bear market of the past 70+ years end. in other words, enjoy the move while it lasts.