PANIC ON WALL STREET
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October is the worst for markets because Halloween is coming !!!
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The present upswing is going to continue and for now it is unequivocally a bear market rally. Bear market rallies are dangerous. People are led to believe it's a new bull market and then the bear leaps back with a vengeance!
WallStGuru 2 years ago
The next level for the DJIA is 7,500 and it's down, down, down to 5,000 after that. I doubt that Dow 7,500 will find much support, maybe a temporary bounce but it's continuing the sustained ride on the proverbial one way elevator going down. This market is much weaker than most suspect.
WallStGuru 3 years ago
This bear market rally will continue for the short term but it will not be sustained. This just underscores market volatility. Thanks for your comments. You have made some very astute observations.
WallStGuru 3 years ago
I agree...but were getting a great "dead cat bounce" today...up 800+..it won't last, good bailing point....but everyday is not going to be a "down day"
mjamesb2008 3 years ago
I said in my other posting that today (October 13, 2008) would be a reflex rally in response to the G7 rescue plan. I predicted this rally would happen. But it will be short-lived. And you are correct, everyday is not going to be down. Just like everyday is not going to be up. Government intervention is not good. Markets have to correct themselves on the downside or upside. They have to go their natural course. You can't have a short term solution to a long-term problem.
WallStGuru 3 years ago