Official Stock Market & Economy Thread

[nicefro]

It's obvious it'll tank for the week, but even leverage included, don't you think it'll rebound eventually and see $11 again.

I held SKF for about a month from $131 to $99 and sold at $140 right before it hit $200 on Inauguration day. There is leverage with these ETF's but theycan still recover.

 

[banks2pierce]

I think there will be a rally at some point, possibly to 9k, but that will be the only chance you get. I'd personally sell now, or I'd lose a lot ofsleep over the next few weeks.

 

[nicefro]

I'm loosing hella sleep man. I want to set a limit order @ $9.5 for tomorrow morning but am kind of skeptical. Think, if we tank this week, next weekwe'll pick up hard but I feel like I've already missed a good FAZ/SKF entry point and I don't want to buy the top.

On another hand, I don't want FAS to drop to $7.50.

Can we agree that we're near a bottom or do you think we're doomed headed below November bottoms.

 

[andycrazn]

Originally Posted by nicefro

I'm loosing hella sleep man. I want to set a limit order @ $9.5 for tomorrow morning but am kind of skeptical. Think, if we tank this week, next week we'll pick up hard but I feel like I've already missed a good FAZ/SKF entry point and I don't want to buy the top.

On another hand, I don't want FAS to drop to $7.50.

Can we agree that we're near a bottom or do you think we're doomed headed below November bottoms.

imo we're already near the bottom but i think theres still some more to go. some of the stocks ive been looking at hit their new lows a fewdays ago.

 

[banks2pierce]

I've read some TA that says 6k is another bottom. Also a "guy who knows things" claims 3k by q2, and I trust.

 

[reigndrop]

Originally Posted by Banks2Pierce

I've read some TA that says 6k is another bottom. Also a "guy who knows things" claims 3k by q2, and I trust.

Dare to dream B2P? If we do go that low, your money would be worthless anyway. There'd be political uprising....

 

[nicefro]

Originally Posted by Banks2Pierce

I've read some TA that says 6k is another bottom. Also a "guy who knows things" claims 3k by q2, and I trust.

Thanks for the info but if that ends up being the case, my grand or so in the market will be the least of my worries. I have time and time andtime to make back any losses.

If it goes to 3k, I'll be concerned about, hell, I don't even know what I'll have to be concerned about.

Don't even want to think of that scenario. There would be blood in the streets and I mean that in the most literal sense.

 

[joe mcknight is ballin]

Originally Posted by Banks2Pierce

I've read some TA that says 6k is another bottom. Also a "guy who knows things" claims 3k by q2, and I trust.

stop talking ridiculousness. everyone is a guy in the know. why dont you do your own thinking and figure out how ******ed it is for the dow todrop to 3k without some serious ramifications.

 

[qpitfighter]

6k is possible... 3k not so much.

 

[wawaweewa]

As yayo rightly points out 7800 and 825 is a key point. That's the fed support level.
If they allow it to go than it's an easy slide towards 7500...maybe even further.

Just watch that 7800 and 825 level.

The S&P operated at a 5 PE during the depression. It's still at 12 PE currently. Long way to drop. All depends on the feds though.
I think their main goal is to wholly nationalize some major banks. That's the endgame imo.

We're only in the beginning stages of the depression.
65 years (with the last 30 just being absurd) of boom brings along a pretty lengthy "bust".

 

[banks2pierce]

Originally Posted by Joe McKnight Is BALLIN

Originally Posted by Banks2Pierce

I've read some TA that says 6k is another bottom. Also a "guy who knows things" claims 3k by q2, and I trust.

stop talking ridiculousness. everyone is a guy in the know. why dont you do your own thinking and figure out how ******ed it is for the dow to drop to 3k without some serious ramifications.

First of all, there will be some serious ramifications. Think I'm gonna buy some food/ammo to be honest.

And do other guys "in the know" call to the day at least 3 months in advance 3 separate stock market crashes?

Don't know why I'm in the market sweating out a few k when the dollars will most likely be worthless very soon. This is history being made here. Atleast we won't say we lived in a boring era.

 

[wawaweewa]

Just as a thought.

This is the guys website.
Pretty interesting.

http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500/Outlook.htmhttp://www.geocities.com/.../Charts/SP500/Outlook.htm

It's not the dude B2P refers too. Just an FYI.

 

[joe mcknight is ballin]

Originally Posted by Banks2Pierce

Originally Posted by Joe McKnight Is BALLIN

Originally Posted by Banks2Pierce

I've read some TA that says 6k is another bottom. Also a "guy who knows things" claims 3k by q2, and I trust.

stop talking ridiculousness. everyone is a guy in the know. why dont you do your own thinking and figure out how ******ed it is for the dow to drop to 3k without some serious ramifications.

First of all, there will be some serious ramifications. Think I'm gonna buy some food/ammo to be honest.

And do other guys "in the know" call to the day at least 3 months in advance 3 separate stock market crashes?

Don't know why I'm in the market sweating out a few k when the dollars will most likely be worthless very soon. This is history being made here. At least we won't say we lived in a boring era.

what are you talking about? you called 6800 youre only over 1k short of this prediction. if this is what you call in the know then youre one gullible fool.

 

[dey know yayo]

if the mkt breaks down today well reverse hard at november lows, but i'm bullish on the market, the leading stocks are in dope patterns, look at preciousmetals stocks, ferts/ags, leading techs, commodity stocks in general.

 

[nicefro]

Well so far so good

 

[nyzmagician]

I believe it will take about 5 years for the economy to rebound itself.

 

[dey know yayo]

rebound? 5 years from now we will still be in freefall..

 

[dey know yayo]

Gold is doing well still from my buy point on Monday, hope you guys got in when I told you to. My gold stocks are up an average of 6.6% today. TBT is going tobe ready for another great run up soon. The American bond bubble is collapsing.

 

[foodgoeshere]

DKY, what's your take on what's happening to ferts right now?

 

[dey know yayo]

theyre just pulling back after big run ups.

FSLR has earnings out any day, should move big one way or another on those... if it moves up, itll probably be another great stock.

NVEC in a nice nice bull flag.

HMY is up 13% today. rocking. DROOY up around 12.5%, good call wawaweewa.

 

[nicefro]

looks pretty sideways for the financials. big movement might come when the CEO's can explain to Congress what's they're doing with these bailoutfunds.

 

[dey know yayo]

i'd get out financials while you can. none of them look bullish at all yet besides goldman. JPM just broke down on heavy volume at it 50dma yesterday. thatsuggests it is just beginning its fall. JPM is the most important stock to most financial ETFs, XLF UYG SKF FAZ FAS etc. heavily weighted component.

sohu is looking very strong over $50.

 

[qpitfighter]

Out of FAS at $8.63.

 

[ieternalv]

are you guys day trading FAS and FAZ? arent the commission and fees killing you? i guess if you are investing with 5k+ then it's probably not thatsignificant.

GLD is looking good

 

[joe mcknight is ballin]

you can really only day trade with fas/faz. i recommend shorting faz rather than buying fas if you have a margins account. shorted faz at closing yesterday andcovered it this morning for a quick buck.