Broke through 11,000........resistance level??

[FinanceDude]

Will we test 10,000? That's my capitulation level, unfortunately. I would LOVE to say 10,500, but I am not convinced of that yet.

Still have a lot of cash on the sidelines............

[al_bundy]

Safe Haven | Market Update: 400 Point Move in the SP!

i can't remember the price target for these things, but if this happens we could be seeing a 6000 DOW around 2012 when the Mayan calendar ends. and supposedly there is a 120 year stock market cycle that is supposed to bottom 2012 - 2014

[FinanceDude]

Quote:

Originally Posted by al_bundy Safe Haven | Market Update: 400 Point Move in the SP! i can't remember the price target for these things, but if this happens we could be seeing a 6000 DOW around 2012 when the Mayan calendar ends. and supposedly there is a 120 year stock market cycle that is supposed to bottom 2012 - 2014

You brightened my day............

[al_bundy]

i remember back around 2004 and 2005 i used to think that most of the bear articles on that site were written by kooks. then around 2007 most of them started to come true

[haha]

Quote:

Originally Posted by al_bundy Safe Haven | Market Update: 400 Point Move in the SP! i can't remember the price target for these things, but if this happens we could be seeing a 6000 DOW around 2012 when the Mayan calendar ends.

Yeah, but that is the Mayan-Jones Industrials.

Coming back to the 21st century, today's 11,000 or so on the Dow-Jones Industrials marks just short of a 50% retracement of the ca 7000 point gain from the 2002 low to the 2007 high. This is often a turnaround region-if there is going to be a turnaround!

Ha

[FinanceDude]

We'll know we're at the true bottom when we see the "Prudent Bear" get paraded around on CNBC as nauseum........

I wonder what good ole Laslo Birini is talking about these days.......

[al_bundy]

he was on CNBC yesterday

i get home around 4:30pm and catch Closing Bell and Fast Money. Don't remember what he said though. i usually don't pay attention to any of the gurus on cnbc or financial media in general with a few exceptions

Dow did lose around 50% of total value in the 1973 - 1974 bear market and MACD was flashing a 3 month buy warning right before things turned around. Just like the 2002 lows

[al_bundy]

Trading Goddess Stock Blog!: Markets Lunge for 50% Fibonacci Monthly Retracement

interesting bit from my daily reading. and she posts some nice pics as well once in a while

[haha]

Quote:

Originally Posted by al_bundy Trading Goddess Stock Blog!: Markets Lunge for 50% Fibonacci Monthly Retracement interesting bit from my daily reading. and she posts some nice pics as well once in a while

Yes...

Quote:

Originally Posted by haha Coming back to the 21st century, today's 11,000 or so on the Dow-Jones Industrials marks just short of a 50% retracement of the ca 7000 point gain from the 2002 low to the 2007 high. This is often a turnaround region-if there is going to be a turnaround! Ha

[Notmuchlonger]

So whats this all mean?

Oh thanks for the addy I got a new site to visit

[Dawg52]

Quote:

Originally Posted by FinanceDude We'll know we're at the true bottom when we see the "Prudent Bear" get paraded around on CNBC as nauseum........ I wonder what good ole Laslo Birini is talking about these days.......

Where's 'Wall Street Week with Louis Rukeyser' when you need it? Always enjoyed that show. Would be interesting during these times. Ole Las was one of his favorite's.

Looks like Lou is still here in some fashion though.

Rukeyser.com

[audreyh1]

Quote:

Originally Posted by FinanceDude We'll know we're at the true bottom when we see the "Prudent Bear" get paraded around on CNBC as nauseum........ I wonder what good ole Laslo Birini is talking about these days.......

The Prudent Bear fund was bought by Federated today! Maybe that's your indication?

Yesterday Lazlo Birini was saying don't touch the financials they're going to go up in flames!

Audrey

[Hal3]

Quote:

Originally Posted by Dawg52 Where's 'Wall Street Week with Louis Rukeyser' when you need it? Always enjoyed that show. Would be interesting during these times. Ole Las was one of his favorite's. Looks like Lou is still here in some fashion though. Rukeyser.com

Louis Rukeyser
1933-2006"As many of you know, Louis Rukeyser died May 2, 2006, at his home in Connecticut. We have lost a great man who was an inspiration to millions of investors — and to those of us who had the honor of working with him.We remain committed to the values that Lou advanced so vigorously during his legendary career, and we will continue his mission of helping individual investors make their financial dreams come true."

Remember WSW was the only show on the air for many years. It's hard to believe with non-stop FNN etc. these days.

Is there any way to retire early and be issued memory of things that happened 50 years ago? You are not really retired retired unless you can cay "I remember when ..." no matter what the topic.

[Hal3]

I have always felt that Harry Dent was on to something with his spending wave theories. They don't explain the current meltdown but they do suggest that we may be in for a prolonged downturn.

"Based on these predictions, the U.S. economy (and the global economy) will continue to boom into 2010 before experiencing an extended slowdown into 2023. Stock prices are likely to peak by late 2010 and then bottom around late 2022."

One of the key weaknesses of his theory is that it doesn't include a global perspective.

Remember, not only am I not a financial professional - I have a pessimistic attitude.

[al_bundy]

liked one of his books, but i thought some stuff was way out there. like his stock market chart dating back to the South China Sea Company and his theory that the crash around 2009 or 2010 will be so large as to wipe out hundreds of years of gains

If the US Baby Boomers will stop spending like he says than the world economy will also suffer a slow down because so much of the world sells to the US

A lot of his work is also built on the work of Stalin's economic guy who was so smart that he was killed because he pushed for ideas Stalin didn't like.