Please Scroll Down to See Forums Below rsnoble-im-back
Banned
A real possibility for those than know charts. Will it happen? Am I fortune teller--lol.
It wouldn't be a surprise.
It wouldn't be a surprise.
DOW 8000 in the charts
- Thread starter rsnoble-im-back
- Start date
I still cannot comprehend how people earning $50k/year thought they could afford a half million dollar house. I mean, seriously. "You just pay the interest and when you make more money in a few years, you can easily pay it off!" Argh, people are idiots. (I just never knew there were that many idiots that were that idiodic.)
You read too much of the garbage!
Pros Predict: Dow 8,000, Gold $1,500 & More - Stock Market * US * News * Story - CNBC.com
or listen to it!
3rd video down... LOL
Stock Market: Cuomo, Dow at 8000? & More... - General * US * News * Story - CNBC.com
AztecWarrior
New member
I still cannot comprehend how people earning $50k/year thought they could afford a half million dollar house. I mean, seriously. "You just pay the interest and when you make more money in a few years, you can easily pay it off!" Argh, people are idiots. (I just never knew there were that many idiots that were that idiodic.)
Exactly. Why buy something that you don't have the money for. The vexation of trying to make out why these people did what they did has me like WTF!!
PICK3
New member
***PICK3 copies and paste and scurries for google***
H
Humble Pride
Guest
I still cannot comprehend how people earning $50k/year thought they could afford a half million dollar house. I mean, seriously. "You just pay the interest and when you make more money in a few years, you can easily pay it off!" Argh, people are idiots. (I just never knew there were that many idiots that were that idiodic.)
<---couldn't have said it better myself..........
This transcends party lines, it comes down to common sense, and now "some" are paying the price.
I think this will be resolved once Congress sees how low Wall Street can go.........
rsnoble-im-back
Banned
Never seen that. I'm just saying that with the use of trendlines and patterns 8000 would not be unreasonable. The markets overvalued anyway. Just a big sandcastle in sky.
Beaverscratch
New member
The market is overvalued? How are you arriving at that conclusion?
walliwalibus
New member
The dollar was erratic yesterday, but it do disasterous drop or anything like that. Hell, the Euro is down from yesterday......... right now is a good time to jump in as this low is lowest all day in 24 hr trading.
Markets for the most part have strong next day rebounds except for 9-11 because everything was shut down for 4 days. Then when the market opened people did what they know best and sold after a week the market had a strong 3 month rally. People always have to sell they don't always have to buy. The will buy when they persive bargins or opportunities. Oppps I think I am starting to ramble.
I still cannot comprehend how people earning $50k/year thought they could afford a half million dollar house. I mean, seriously. "You just pay the interest and when you make more money in a few years, you can easily pay it off!" Argh, people are idiots. (I just never knew there were that many idiots that were that idiodic.)
Agree...but I would also point out the idiots who lent them the money and who now want to be bailed out by the taxpayers who had common sense to begin with...
The whole system was flawed, loans writen with no paperwork, RE agents raising prices to get a bigger commision, Loan agents doing funny things to paperwork to get loan approved, RE appraisers pulling rabbits out of their hats to justify higher prices, title companies rushing everyone so they can get their cut, banks accomidating it all for the fee, and Wall Street packaging the mortgages together bundling bad and good to get their fees. It was a complete system where the feeding frenzy began and ended...
captainahole
New member
It would have to take out 10,000 first under high volume and bad news (no package would about do it.) It would test the 7400 made in 2001.
bigmann245
New member
what is the dow??
Or if it did a move up on very low volume that would also show weakness. I prefer high and low volume reads for charts and the Elliot Wave, never been a candlestick guy...
rsnoble-im-back
Banned
On 10-10-08 the DOW hit 7882 and came back 1000points at one time(recall my pushing on a giant spring comment?). Cramer called the bottom at nearly 12k. I missed it by 118pts. This is a lesson on learn things for yourself and understand that guys like Cramer are deusch bags and have cost people --LITERALLY-- their live savings in some cases. If they were so good they wouldn't need a job telling everyone else what they should be doing. Really......if you could triple your $ ever month why would you bother spending countless hours trying to get people to subscribe to your newsletter?
Not getting carried away just yet.......still lot's of turbulence out there. And keep in mind bottoms like to be tested, sometimes several times just to confirm that it will hold. There are such things in charts such as triple bottoms. Personally I prefer to test thick bottoms several times with my thick, oh wait, wrong bottom lol. At any rate with all the bones the fed is throwing out it makes it increasingly difficult to get a handle on things.
Hopefully the insanity has worn out but we never really did have a complete freak out which would've really flushed it out and halted the market. Many people stayed the course and kept buying on fear and didn't loose faith. Unfortunetely that's the part that bothers me the most.
Not getting carried away just yet.......still lot's of turbulence out there. And keep in mind bottoms like to be tested, sometimes several times just to confirm that it will hold. There are such things in charts such as triple bottoms. Personally I prefer to test thick bottoms several times with my thick, oh wait, wrong bottom lol. At any rate with all the bones the fed is throwing out it makes it increasingly difficult to get a handle on things.
Hopefully the insanity has worn out but we never really did have a complete freak out which would've really flushed it out and halted the market. Many people stayed the course and kept buying on fear and didn't loose faith. Unfortunetely that's the part that bothers me the most.
rsnoble-im-back
Banned
Elliot waves are pretty hard to figure out. Once you have the complete chart you can place your wave structure easily but when you're trying to predict a future pattern it seems every couple days you end up changing one of the waves to a subwave 1 of A, etc and what looked 100% correct a week ago now is totally different. I think you could make it work on a winning percentage but with lots of study.
chewyxrage
New member
Why does this bother you?
Many people have been taught this, dollar cost averaging, etc, don't panic and pull out low, it's basic shit for anyone who has an interest. You expected something else?
rsnoble-im-back
Banned
I have my reasons. Don't care to elaborate too much but I will say the bus travels faster with fewer passengers. So maybe "worried" isn't the correct word, more of a disappointment.
Creepusmaximus
New member
Screw Elliot waves, also people who trade what the VIX is doing. Everyone has their own voodoo but I don't look at either. In fact why look at the VIX? You can just look at options prices and know what's going on.
Creepusmaximus
New member
The top trader I've ever heard of made 25% a month for his entire career. Average costing is fine for long range safe investments, not trading.
i did study it for 2 years! When I was in college with one of the finance professors. He was trading futures and stuff. Good times then I went to work for Merrill and no time for charts.
chewyxrage
New member
no shit, I was commenting on something completely different that what your addressing right now.
25% a month eh? How's he doing now?
JR76
New member
I'll never forget a lecture on Elliot Wave my boss forced me and three other guys sit thru. The guy giving the talk (Yale degree, supposed authority on the subject) went prattling on about how he saw waves it what was otherwise an almost perfectly horizontal trading range. It seems like people can see waves 1) wherever they want to and 2) more easily after they have formed than while they are forming.
Creepusmaximus
New member
He's retired.
magman1
New member
I would guess what has you worried that you are referring to is that we saw massive drops, but not huge amounts of volumes being traded, which would lead you to believe that mass sell-offs could still be in the works....but prices were so low b/c there just weren't many buyers in the market
rsnoble-im-back
Banned
Similar threads
