The Official Dow 7000 thread

[Terry]

obama on tv speaking, maybe so people like Neil Cuvato (sp?) cannot talk about how bad the markets are. LOL

 

[wimpy77]

jim cramer is irrate with geithner at this point. he says that geithner talks to reporters instead of making a public statement and he changes his mind every five mins.

 

[wimpy77]

obama on tv speaking, maybe so people like Neil Cuvato (sp?) cannot talk about how bad the markets are. LOL

what's he saying?

 

[wimpy77]

does anyone have dibs on 6900 tomorrow?

 

[elvis]

Down 85 points right now to 7279.73. Another 279.73 and we're at 7000. I think we're getting close to 7000. If you look at trends - if we close below 7250 today, we're guaranteed to get to 7000 within the next few weeks.

http://finance.yahoo.com/q?s=^DJI

As soon as the Democrats took control of Congress in 2007, I took my money out of stocks. I'm glad I did.

I bet you are.

 

[DavidS]

does anyone have dibs on 6900 tomorrow?

I think if we hit 6999, we'll bounce up to 7300. I remember the first time we hit 7999 - the market fucking rocket shipped to the moon in one day. Went up 400-500 points.

Looking at after hours trading, though, it looks like the financials will be down tomorrow. All we need is a 115 point loss on the big board tomorrow and BOOM... levels not seen since 1997. I think we need to take a look at April 11, 1997 as the bottom here: 6391.69. I don't think we will will go to early 1996 levels where we played in the low 5000s. I think the bottom is in the mid 6000s, which is where we should've been January 20, 2001. Instead we had reached the 12000s and then dropped to the 11000s.

 

[Toro]

i heard cramer saying, it is bs that buying the market at this time is a good bargain....that the reason the stock market is down 50% is because PROFITS are down 50% for many of these companies...

so if profits are down 50% for most all the companies on the stock market...will our unemployment rise to such? seems impossible but is it really?

I realize that 80% of our businesses are small businesses not on the stock market so maybe, this does translate to 50% of the 20% are off 50% on their profits and the small businesses are doing much better so the unemployment would not go up as much???

Cramer blows with the wind. A year ago, he was telling you to buy stocks. It is a great time to buy stocks if you have a 10-20 year time horizon. A 10-20 day, week or month horizon? Maybe not so much.

Maybe we should start an Official Dow 0 thread.

 

[Toro]

The SP500 is sitting right on support.

I think we are getting close to a near-term bounce. But I said that 15% higher from here.

 

[wimpy77]

i was reading today that the s&p could bottom at 600.

 

[wimpy77]

does anyone have dibs on 6900 tomorrow?

I think if we hit 6999, we'll bounce up to 7300. I remember the first time we hit 7999 - the market fucking rocket shipped to the moon in one day. Went up 400-500 points.

Looking at after hours trading, though, it looks like the financials will be down tomorrow. All we need is a 115 point loss on the big board tomorrow and BOOM... levels not seen since 1997. I think we need to take a look at April 11, 1997 as the bottom here: 6391.69. I don't think we will will go to early 1996 levels where we played in the low 5000s. I think the bottom is in the mid 6000s, which is where we should've been January 20, 2001. Instead we had reached the 12000s and then dropped to the 11000s.

i just looked at citi and bac and both were up. but at this point im not believing the futures after what happened today. heck the utilities which are considered safe dividends are getting pummeled.

 

[Toro]

i was reading today that the s&p could bottom at 600.

It could bottom at 300.

Who knows?

 

[wimpy77]

i saw a guy on cnn who believes 600's could be a bottom, but he also believes the market right now is oversold and believes the short sellers are manipulating the market.

 

[DavidS]

i saw a guy on cnn who believes 600's could be a bottom, but he also believes the market right now is oversold and believes the short sellers are manipulating the market.

The DOW will hit the 6000s today, guaranteed. Why?

We're going to get a consumer confidence report and Bernake is going to make some comments. Whenever good ol' Benjamin opens his mouth, the market tanks. His face will be plastered on CNBC at 10 am while the market is down 200 points. Just watch.

 

[wimpy77]

i think you are making a a good call there david. i just want this government to stop all the mythological junk and get to getting this economy on the rail again. the longer they wait the worst it will be.

 

[wimpy77]

where are the futures up?

 

[DavidS]

where are the futures up?

Dow futures are up 43, S&P is up 5 and the Nasdaq is down 36. That's a big number to be down for in the Nasdaq - I don't really follow technology, so I wonder what's up.

Futures mean nothing. The DOW was up today when it opened because of positive futures. Asia's not looking too pretty and neither is Europe. It's gonna be a rough day.

 

[wimpy77]

analyst think that people looked for a premature rally in techs and thus far their earnings have been down and not doing well.

 

[DavidS]

analyst think that people looked for a premature rally in techs and thus far their earnings have been down and not doing well.

Cramer called for Google to fall below 300. It ain't too far off..

 

[Toro]

i saw a guy on cnn who believes 600's could be a bottom, but he also believes the market right now is oversold and believes the short sellers are manipulating the market.

• The market is oversold
• The shorts are manipulating the market
• We could go to 600, which is only another 20% away. We have fallen 15% over the past 10 trading days so what's another 20%? We could get there by mid-March.

 

[editec]

Somebody on this thread said

"The markets hate uncertainty"
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That is, I think, the problem.

Now I don't doubt that short sellers are manipulating stocks, either, but really the market thrives on confidence and there is a LACK OF CONFIDENCE, right now, in where this economy is headed.

IF the number of newly unemployed starts to drop and nothing else changed, the market would begin to rally.

I fully expect that NOT to happen, soon though.

PERHAPS this stimulus package will stem the flow of newly unemployed.

If that happens, the market will begin a recovery.

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