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Dow movement discussion

Discussion in 'Economics and Financials' started by texasPHINSfan, Oct 3, 2008.

  1. padre31

    padre31 Premium Member Luxury Box

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    Maybe, some stocks were so beaten down that IMO, a bad retail sales number will not hit them very much at all.
     
  2. finswin56

    finswin56 Get a mop

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    Maybe, but I didn't think GE and Morgan Stanley could get killed like they did either. There are some awesome values out there right now for sure.
     
  3. padre31

    padre31 Premium Member Luxury Box

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    Exactly, and in the infrastructure economy, it doesn't matter who sells what, those companies are needed if a band aid is sold or a box of raisin bran is sold.

    I used to love GE, the one time largest cash business in the world, but IMO Immelt has really damaged that company.
     
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  4. finswin56

    finswin56 Get a mop

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    Hey, how's 936 feel?
     
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  5. padre31

    padre31 Premium Member Luxury Box

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    That is insane finswin56....I'm pleased that people did not lose their shirts if they didn't sell low, but that is just volatile as heck, swings like that make me a bit nervous.
     
  6. finswin56

    finswin56 Get a mop

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    :lol: Ya think!
    I'm just glad Non Farm Payrolls is behind us. I think we'll try to take a peek at those lows again. Maybe even this week.
     
  7. padre31

    padre31 Premium Member Luxury Box

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    The DOW opens 300 pts up....
     
  8. mnfinfan

    mnfinfan Active Premium Member Luxury Box

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    then drops over 800 the next day and a half! :lol: What a ****ing roller coaster. Its been good for business though, a lot of leery people out there not sure what the hell is going on.
     
  9. adamprez2003

    adamprez2003 Senior Member

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    thye have to test the floor of 8000/8500. I think it will hold. good short term buying opportunity here and by short i mean one week or so. i wouldnt hold too long in this environment until we have a better feel for the worlds economy
     
  10. padre31

    padre31 Premium Member Luxury Box

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    What do you see as the genesis of a rebound from 8000-8,500?

    The nikkei is down 10% again, but on the morrow I'm going to take some of my Joe the Plumber money down to the casino at Wall and Broad...
     
  11. adamprez2003

    adamprez2003 Senior Member

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    at 8000 you have a double top which is generally a very bearish technical pattern but i think that the added liquidity to the banks globally is enough of a bullish sign fundamentally that the markets wont go below it and instead use it as a buying opportunity. Its a bit scary because if you take out all the speculation from the markets and go by pure fundamentals and historical pricing models I have heard people say that fair value is really between 5000 and 6000 on the dow. still i think they wont let it drop below
     
  12. Ludacris

    Ludacris Season Ticket Holder Club Member

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  13. mnfinfan

    mnfinfan Active Premium Member Luxury Box

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    well, a little stumble after the announcement today, but really that was almost the same as holding steady. I see the Nikkei is up 3.4% so far, and most of the Asian markets have also started up this morning. Hopefully see that continue through Europe into the USA tomorrow.
     
  14. Ludacris

    Ludacris Season Ticket Holder Club Member

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    It looks like technically the bottom should be around 7400. There is a major support area there if you look at the charts going back 12 years. If it breaches that support. I'm going to worry like hell.
     
  15. adamprez2003

    adamprez2003 Senior Member

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    i am going to worry like hell if we even attempt to test that bottom
     
  16. Ludacris

    Ludacris Season Ticket Holder Club Member

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    Almost there now.
     
  17. FiN.in.RI

    FiN.in.RI Paul pierced through..

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    this BLOWS
     
  18. FiN.in.RI

    FiN.in.RI Paul pierced through..

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    [​IMG]







    Double bottom..
     
  19. Ludacris

    Ludacris Season Ticket Holder Club Member

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    Dow now at 7,552. When will this freakin thing end ?!?!?!
     
  20. padre31

    padre31 Premium Member Luxury Box

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    Not very soon I'm afraid, there is nothing to stop it from bleeding off overpriced value, Christmas is not promising to be a good sales season (outside of WalMart and Target and the discounters like Family Dollar).

    If one looks ahead to January, an Obama Administration is not offering any gleamer of hope either.
     

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