HenryBHough
Diamond Member
Dow at 7500 is magic.
Wait for it.
Won't be long.
Wait for it.
Won't be long.
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can someone tells us what's really going on?!
can someone tells us what's really going on?!
We are Japan 20 years ago. We also have Boomer's retiring cashing in on their investments & demanding their entitlements. Oh & Europe is screwing everyone.
What's going on? Europe is in terrible debt, America is in terrible debt. We are all in debt because of low taxes and high spending. If we cut spending and raised taxes, we would be much better off. However, the Tea Party morons who each deserve to be tried for treason, held the House of Representatives Hostage on this debt deal and would not back any bill that raised taxes for the wealthy. In other words, if you take home 1 million dollars a year after all deductions and before taxes, the Tea Party morons don't want you to lose out on an additional 5% of your income because they fear you won't create jobs. Of course the taxes were lowered under Bush and our economy was sluggish at best during Bush's terms so tax cuts have really done nothing good for us.
Investing in the market as a whole right now is far too risky. At best, select a few individual companies that are performing well.
I have been buying stock over the past few days. I think this is a bear market bounce and we will go back and eventually retest the lows but I think we have more to go on the upside. The market is acting pretty well despite the lousy numbers from Germany.
FTR the RSI of the Russell 2000 went lower last week than at any time during the Financial Crisis.
I have been buying stock over the past few days. I think this is a bear market bounce and we will go back and eventually retest the lows but I think we have more to go on the upside. The market is acting pretty well despite the lousy numbers from Germany.
FTR the RSI of the Russell 2000 went lower last week than at any time during the Financial Crisis.
I am to affraid to ride this bounce any further despite the RSI. The RSI was below 50 just before we had the largest point drop in history. Gold is safer than the markets or dollars. I just closed out my short on the DXD at $19.27
The Dow to Gold ratio is headed somewhere between 1:1 & 5:1.
That's looking good now.
Near as I can tell, the press conference was a complete waste. Worse, they talked about a transaction tax. Europe is even more clueless than us.
Watch for a European bank to fail.