Monday, June 7, 2010

Panic Coming Soon

We will hit 1040 sometime this week, and at that time, we're likely to have panic selling when the widely touted 1040 support fails.

4 comments:

  1. SPX has a megaphone. This market's in trouble.

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  2. I agree with the other guy. You bears are pushing your luck. Now for a lot of you guys, you've been so whipped by the bull market that you were too hesitant to get short a market that just went down 165 points. And now that things are bad, you're expecting the market to align with your still bearish expectations? Well I"m afraid, you're all a little too late to the party now. You had your chance.

    Ya'll should get ready to go home. The music is about to stop any minute now.

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  3. Owl, if it were that easy to predict the markets direction we'd all be millionaires.


    Look for some type of bounce for a week or so before further deterioration.

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  4. We could bounce, in fact, I am hoping for one so I can get short.

    But I don't think there will be a strong bounce before we go lower.
    There are too many stuck bagholders waiting for a bounce to get out.

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