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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: profile_14 who wrote (122801)7/25/2009 8:37:21 AM
From: GREENLAW4-71 Recommendation  Read Replies (2) of 206223
 
Pro, Market being run by the HF's and GS today. I agree as soon as you believe a correction is at hand they jam it up and break it out of technical areas of flux.

If you take a step back and look at a longer term charts of all index's you can see easily a full head and the forming of the right shoulder. I see possible 9500 to 10,500 on the Dow easily to form the right side. But that being said the higher we go I believe the lower we will go on the next leg down and I do see below 700 on the SPX easy, possible 550.

The strangest part of the current move and market sentiment is how people are chasing this market acting as if we are no longer contracting in the economy. This is not 2003-2004 far too many differences and far too many believing that is the pattern we are following. In March no one would call a bottom, and everyone said 500 SPX was on the horizon. Today its the exact mirror as we were that March 8, and 9. Everyone wants inthe market and the talking heads now look at 10,000 as a given and SPX 1060-1100.

I have not even mentioned the Comp.

I have some very small .25% positions, and willing to stop out if we continue to break up. But when this cracks and when reality hits this market it will be too soon to sell just like last Sept-Oct. Mr market will not let you out.

Bubble creation is back in a big way!
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