Dwight,
I would like to point out another very unknown and forgotten piece of history everyone seems to forget. On oct 5, 1987 the Dow was at 2640 about 82 points from the all time high, or 3% from it's high. On Oct 22, 1997 the Dow was at 8040 or 260 points from the top or 3.1% If we take the 87 scenario of the next 10 days after Oct 5 , 1987 it may raise a few eyebrows... from Oct. 6 to Oct 13, 1987 the dow made its way to 2510 or 7.7% down ( that's 6 trading days and the 13th was a tuesday.) From Oct 13, 1987 to Oct 19,1987 the dow plunged to 1740 or 30% . Let's count the days again.... Oct. 5 to Oct 19,1987 that's 11 days the dow dropped 38% !!!!!!! BTW the ossilators were all in the toilet like they are now!!!! They can stay way oversold in a kind of WARP!!! OK so will we crash.... I really don't think so, but SPEEDRACER always wears his crash helmut, especially since I have been looking forthis for the last 3 months...... 5400 is noy only reasonable, it barely takes us back in time 1.5 years or so...The low in July of 1996 was 5170 That BTW would be a 38% move down from the High. I said 5400 because that was the weekly close that week...... So take out your helmut. Don't have this prediction as a given, Just have it in your mind so that you are aware of it. And in 1987 the smartest people panicked early. My finger is on the sell button Every day... Best wishes SPEEDY============================================================== |
