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DOW coming down hard

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kwagga
Super Contributor
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33 REPLIES 33
Not applicable
together with US gold price, strange..
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Not applicable
result of stronger dollar coupled with lots of selling.. apparently.
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HateGauteng
Super Contributor
Looks like the right shoulder on the giant head and shoulders, that has been forming on the dow since 1999, might be forming its downleg. This scenario unfolded during the great depression. Only time will tell if the right shoulder will be a single peak or take several years to form; like with the left shoulder. For the graph click on - - - price charts->interactive price charts->DJIA->all.
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HateGauteng
Super Contributor
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Wizard
Super Contributor
What a wonderful theory!!! But there is a problem HateGauteng!! You better start praying that World War 3 starts in the next 2 months or that everyone starts believing the predictions for end of the world in 2012! WHY DON'T U JUST DO WHAT MAKES MORE COMMON SESE HERE.put your 10m that u have in the bank into the DOW..in 2035 when the next major bull cycle ends it will grow 10 fold and then even your children will be financially secure!!
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Not applicable
And there would be a bank you say ?
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Wizard
Super Contributor
There is always hope :)
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Not applicable
I cannot access the screencast. Can some kind soul give a summary of the mans call?
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SimonPB
Valued Contributor
the end of the world ??
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Not applicable
His been a bear since june last year ... nothing new same thing :-)
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Not applicable
Time to buy cans of tuna?
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jack12
Super Contributor
Bully Beef...Save the Tuna for later!
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saash
Super Contributor
So now we have the technical alalysis for why we see what we see - anyone care to update us on what the fundamentals behind the fall are? Bad Job data, naughty investor, bad bank debt write-offs. There is always a fundamental underlying the technical reasons ....
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HateGauteng
Super Contributor
Don't forget, the planets' climate is changing, new diseases are arising, etc. It might not be WWIII that fixes things. This time the planet could sort out stupid humans. Anyway, one nevers knows, some terrorist could set off a nuke tomorrow and start the ball rolling.
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saash
Super Contributor
Well if it was a bomb desidned to get rid of stupid humans - I might just buy shares in the manufacturing company cos I think the product would be in high demand!
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HateGauteng
Super Contributor
Lol! back in the day, when I used to be a geneticist, my younger sis and I used to have discussions on the creating such a weapon following the biological route. Project got put on hold, she's at Max Planck in Germany busy with one of her PhD's.
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saash
Super Contributor
Kwagga - if today's price action confirms the break - what's the anticipated stop? Does Charty think Dow will make a full retracement. And what about us? Do we follow or rally on gold prices? Looking at the dow, Daily prices have moved into a bollinger squeeze, that is also rather relevant on the Dow breaking support. But us on the other hand, I think we might start retracing soon?
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richardw
Super Contributor
Risk of Greece default is rising, China is putting up rates (affects property, Chinese stocks and there's been a lot of resources speculation), U.S. is adding more anti-bank measures, like restricting prop trading. Lots of bad karma out there, just waiting for a catalyst.
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kwagga
Super Contributor
Yes Saash exactly. All your questions point to uncertainly. The same uncertainly the markets feel and the same uncertainty reflected in the technicals. Not a good time to be long right now. The answers will come from continues earnings reports from the US in the next few weeks. Until then some cash is king and a few carefully selected shorts. By the way ACL price retraced exaclty 68.8% of its recent highs - ambush zone territory and are now coming down hard. Scary stuff. I'm a little cautious right now.
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