Did we just see the stock market perform a dead cat bounce?
Posted June 26th, 2008 by bigmikedude
output
Look at a one year chart of the DOW, and tell me if it doesn't look like a slow motion "dead cat bounce".
Be sure to select the 1 year chart.
Bookmark/Search this post with:
- Login to post comments
re-broke through...
the all important 12000 barrier that manystrom talked about in his 1974 trend post. watch to see if the chart does a doje' on the weekly and monthly charts...are we going to fall hard and fast...or soft and slow???
Kitty!!!
I really liked that cat.
rofl
rofl
DOW down
-358.41 close@ 11453.42 6/26/08
Thats why I posted this.
We closed 297 points below a major support level of 11750 for the first time. That is dangerous. If it hangs here and closes below again, the next support level is in the 9000's I believe.
Where was the PPT today?
I was expecting a miraculous afternoon recovery.
Nah. The Fed will hold it
Nah. The Fed will hold it together for some time I think. I don't think the massive pain will start for a couple more years. These are just the first steps towards that process. If they don't cut spending and practice some fiscal responsiblity the ship is gonna tank for sure.
I disagree...
I believe THIS is the beginning of the end. UN foreign diplomatic personnel were seen all this week converting their dollars to Euros or other stable currency and moving their money entirely out of New York banks! Why? What do they know (or realize) that we don't know (or realize) yet?
You can NOT control this tiger. We all KNOW they are a paper tiger (pun intended). The Fed is not as all powerful as you may believe. A house of cards has no strength.
I hope eveyone has a few cans of beans, some water, and dry ammo stored up...just in case, right?
O Captain, My Captain, rise up and hear the bells!
I think they will coast back
I think they will coast back through July and into August and by August another major financial institution might probably go down. I think after bailing that out the market will start taking a beating. It wont be until 2009 that the reverberations of what happens then will start taking place. You have to remember that mainstreet lags wall street. It'll take a bit of time to trickle down, but inevitably it will.
It sounds like the next
It sounds like the next financial institution to go down may be Wachovia...
http://www.bloomberg.com/...
Looks like it
By now everyone knows that US banks are packed with undisclosed liabilities.
The Fed's balance sheet is packed with garbage it accepted from the banks as collateral, and today the Fed drained (i.e., didn't renew) about $30 billion in maturing loans. If this keeps up, we'll see banks with liquidity problems. This is a big reason why Citicorp was downgraded.
I'm wondering how the US government will try to avoid the inevitable.
Obviously..
By going to war with Iran.
and by killing trees
to print more worthless dollars.
Hey Goldstein....
Thanks for sending me that GEAB report...I have forwarded it to many others. It was well thought out...and I appreciate the effort.
**“The man who does not read good books has no advantage over the man who cannot read them.” ~ Mark Twain **
No problem.
Can't let the european bureaucrats be the only ones who are prepared. Pass it far and wide.
I just bought
a water filter on line yesterday hope it gets to me quick. Peace
I bought First Need deluxe on the weekend.
What did you get?
After I bought it and unpacked it and used it a friend told me you need to get porcelain cause you can clean it out and never buy a replacement filter. First Need lasts up to 175 gallons. I think I will buy a filter now. It filters as small as viruses. Its specs are among the best and I got in on sale for about $100.
The water coming out of it sure tastes good.
That's the advantage I have always liked about
having well water. I could care less what color my shower and toilet bowl is when company shows up unexpectedly. All I know is, I can drink well water any day, any time, and all I need is a taste and odor filter in the worst case scenario and even that isn't really necessary.
Looks more like...
A dead cat being flushed down the toilet.
Oh my
It appears so. "Silver and gold, silver and gold. How many blah blah can one something hold."
If the Iran war thread has any validity
It would be a good day to load up on metals. Tomorrow is friday. Why did the market dive that much so fast? Who knows what, that we don't? Why did silver and gold climb so fast today? Once again.. Who knows something we may not know? Strange that this market to metals inversion happens on the day before a war is rumored to possibly start, 2 weeks after a Bilderberg meeting here in the U.S.
Even a skeptic such as myself must raise an eyebrow.
I may rebuy the silver I sold today, before tomorrow.