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So nobody has words for that dow close

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Regular Contributor
and that futures market looking scary
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54 REPLIES 54
Super Contributor
Here's a quote that sums it up. Richard Russell, editor of Dow Theory Letters. 'With a great bear market [now] in force, we're forced to think in terms of individual or family survival. My subscribers and I are on our own now, dealing with a government that is attempting to print itself out of a bear market. More inflation on top of a bear market that was created out of debt and inflation will not work, at least I don't see it working (not does the market).'
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Super Contributor
Brazen ,i hesitate to tell u this,but will not name my source,but will tell u when the market price of a number of base commodities starts moving up at contract level....At the moment the buyers are playing "who blinks first"! Why they are even prepared to pay higher spot prices and trying to drag contract prices down.That is how Sallies previously ended up with a contract that virtually forced them into bancruptcy.Especially the East,only pay lip-service to "human rights,decent wages etc",if a company gets into trouble they try to take it over at a rock bottom price!
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Super Contributor
What's got me worried is just how unhealthy the setup is starting to look. The USD Index should've been way overbought by now, yet it's daily RSI is almost neutral at 60 and that means it will probably make a stab at the 90's. DOW and S'nP are making unhealthy moves with the small moves the last two sessions as all it did is allow the RSI to stay above oversold. DOW transports are buggered though. Also DOW volume yesterday is only half of what it was on 20 Nov 08 and that tells it's own story. But as long as the USD Index heads north, I'm being ultra cautious about any kind of bottom. Personally I believe we're in for another leg down, but then that's guessing nuh?
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Super Contributor
Good grief! Isn't that open a bit overdone? Chartist? Looks like a BIG gap play could be setting up? But I'll wait for the FTSE as the (relatively) low VIX has me worried about who is really buying or selling
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Regular Contributor
Ja that anglo straight through 17000
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Not applicable
Anglo released statement on SENS this am
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Super Contributor
Anyone gonna play the agl 170 buy? Or is this setting up the 170 level as resistence? Methinks, with Zarp popping up yesterday that tis is a bad omen and with us of f A's inflation shockers that we aint seen nuttin yet!
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to quote Jessie Livemore...."well we are in a bear market"....only thing is he used to say "well we are in a bull market"
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Super Contributor
I saw this a a week or so ago - if you look at the huge Head and Shoulders of the S&P from 1500 - 800, if the S&P goes much lower it could go to 100. That is market wipeout. Hold onto your shorts!!
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Super Contributor
Not me this time. Held nothing by yesterday. That 3 point move on the DOW the night before told me there aint no bulls.
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Super Contributor
Yip, B. Nothing seems impossible now does it? I think you (and Simon?) are the only ones who've been thru a bear before. Does this seem like the other times?
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Super Contributor
OK I had enough. Cashing out the lot. %^&* this.
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Not applicable
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Super Contributor
Sorry not Head and Shoulders - Double Top!
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Super Contributor
Well done B, your gut feel and reading of the market has held you in good stead. A day before Anglo suspends dividends and sharebuyback!! There is no support under this one for the moment and 170 will be resistence even if they close it above it today, which I doubt. UK gonna kill this one and most SA listed co's. Something to do with getting your own back on the okes who think they can come and play in our playground! OML and investec is cheers. at least Anglo still has stuff in the ground, like a rabbit in a hat.....
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Super Contributor
No this one is much worse,or my age is catching up with me....One reverse spike after the world trade thing had shareholders asking what recession a year later....In he previous downtunrns(recessions0 in the eighties the market was only overheated,there were no major fraudulent goings on ,on a global scale like now....The problem with recovery now is that the next six months of the majors are going to be even worse as now there is very little going on and the full impact of lower prices will hit home.
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Super Contributor
Yeeow Anglo is giving itself a hiding
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Super Contributor
This is HUGE, AGL getting killed, man, we've never been so close to capitulation. Once this hits Rapport this Sunday, man on the street will be queing on monday to get their UT's out. Im close to that feeling that there's no hope, just need to keep reminding me that then is when I need to start buying.
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Super Contributor
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