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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (13092)12/14/2011 7:23:59 PM
From: Jorj X Mckie1 Recommendation  Read Replies (1) of 33421
 
I do remember a lot of the 2%/4% moves back in March 2000....right before the crash.

I developed a couple of rules over the years.

1. All booms must bust (all bubbles must pop)
2. It's never as bad as the bears think
3. It's never as good as the bulls think

Looking at some of the wider view charts, I can't see the DJIA going much below 8000...and that's a worst case scenario. If the equities are headed down, I really don't see much below 10k. I could very easily make an argument based on technicals for a small move down followed by an even stronger move up into the 14k range.

But then again, the euro mess could have some nasty implications.....

The clearest pictures for me are with Gold and the Euro going down and the Dollar going up. The charts would need to get pretty broken to change the picture on those. Oil looks like it has topped, but there is still some wiggle room on the interpretation of the chart. Equities...what I said above...charts aren't really broken yet, but they do look toppy.

I'd like everything to just kinda stay where it is right now....I have some business stuff going on that will be better if things don't go up too much AND don't go down too much.
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