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  1. #1
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    Stock Market - S&P Breaks Key Support

    Look out below. Next stop looks to be in the 960-980 area.
    Tomorrow at 8:30 EST is the May (un)employment data release. Uh oh.



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    Re: Stock Market - S&P Breaks Key Support

    Ouchie.... Here comes the double dip.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Stock Market - S&P Breaks Key Support

    Not looking good. Slow economy and can't lower interest rates since those bullets were used up 3 years ago to create the borrowing and housing boom.



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    Re: Stock Market - S&P Breaks Key Support

    Quote Originally Posted by CloneinWDSM View Post
    LOL ya right. If we win 9 games, I'll wax my entire body.

  5. #5
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    Re: Stock Market - S&P Breaks Key Support

    Quote Originally Posted by CYKOFAN View Post
    Not looking good. Slow economy and can't lower interest rates since those bullets were used up 3 years ago to create the borrowing and housing boom.
    Don't bet on "0" being the floor.

    Japanese banks hit with negative interest rates - Nov. 6, 1998


    Asteroids are nature's way of asking "How's that space program going?"

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    Cool Re: Stock Market - S&P Breaks Key Support

    A key support was broken 45 days ago when it went below the 200-day moving average. Hasn't been good since and not looking good in the near future.


    King James

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    Re: Stock Market - S&P Breaks Key Support


  8. #8
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    Re: Stock Market - S&P Breaks Key Support

    Just about any business owner/operator can tell you that just in the last several weeks, there has been a noticeable decline in sales. In a business that should normally be picking up steam throughout the summer, we're soft.

    This is likely to continue for several months. I think the stock market has done well over the past 15 months in large part due to a rebuilding of inventories and government stimulus that has extended jobless benefits and kept public sector employees from being laid off. That stimulus has now ended and inventories are rebuilt.

    I think that coincides with what we're seeing in the market technically as well.



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    Re: Stock Market - S&P Breaks Key Support

    Happy I made these changes at the start of the month. I just wish I would have went a little further. Now the big question is when to get back in. I don't think anything good can happen this year. I would also think a lot of people will be selling before 2011 because of the tax changes coming but what do I know.

    http://www.cyclonefanatic.com/forum/...k-changes.html



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    Re: Stock Market - S&P Breaks Key Support

    Looks like a drop of 1000 in Dow is now possible.


    CFH HMagic bball season next year.
    Let my Fred's Four Horsemen ride: Georges, Hogue, Nader, and McKay.

  11. #11
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    Re: Stock Market - S&P Breaks Key Support

    All there really is to do is let it ride. Not sure where else I'd put my money, and I'm in it for the long term.



  12. #12
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    Re: Stock Market - S&P Breaks Key Support

    Quote Originally Posted by brianhos View Post
    Ouchie.... Here comes the double dip.
    the dd that you speak of has all been a sham...we have never exited the Great Recession. Consumers have not been spending outside of tax incentive spending...ie housing etc. This is not going to be a smooth landing by any means. I was talking to a hedge fund manager friend...he has been building a 'wall of cash' for sometime.


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

  13. #13
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    Re: Stock Market - S&P Breaks Key Support

    Quote Originally Posted by Wesley View Post
    Looks like a drop of 1000 in Dow is now possible.
    Over what time frame? Tomorrow?

    It's already dropped 1500 points from its April high. Back then Larry Kudlow couldn't do a show without mentioning the V-shaped recovery we were in. I haven't heard him mention a peep about it in the last couple weeks. Bulls are getting harder and harder to find.



  14. #14
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    Re: Stock Market - S&P Breaks Key Support

    Quote Originally Posted by Cyclonepride View Post
    All there really is to do is let it ride. Not sure where else I'd put my money, and I'm in it for the long term.
    cash...who cares if you get 0.05% the alternative sucks-


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

  15. #15
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    Re: Stock Market - S&P Breaks Key Support

    Quote Originally Posted by StLouisClone View Post
    Over what time frame? Tomorrow?

    It's already dropped 1500 points from its April high. Back then Larry Kudlow couldn't do a show without mentioning the V-shaped recovery we were in. I haven't heard him mention a peep about it in the last couple weeks. Bulls are getting harder and harder to find.
    kudlow is the equivalent of a news anchor...nothing more. Anybody looking at him beyond that is a bit 'touched' in the head.


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

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