SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Idea Of The Day
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Brian Fukuba who wrote (16162)1/7/1998 3:14:00 AM
From: J.T.  Read Replies (2) of 50167
 
Brian, This is the first year (97' yearend) since 1983 that the Dow failed to rally from just before Thanksgiving to Christmas since 1983. It started out well on 11/21 via a close at 7881 and peaked on 12/8 closing of 8149 only to fall to 7660 on 12/24.Lucky us, we are still above this level (7906). Guess what happened in 1983 yearend and the "Spillover effect of 84"??? In Pre Turkey 83' we started around 1278 Dow and closed around 1250 Dow PreXmas. Big deal, right?? Keep in mind that the bull market started in Aug 82' at roughly 800 Dow so the market was already up 35% + going into 84'... In 84' we started at roughly 1260 rallied the first week up to 1290 area only to reach 1120 area interday low in Mid Feb (13% drop) and 1080 area triple test in June-Aug (16%) before finishing the year at 1205 area and down roughly 6.5% for the year (interday high to low year). Now you ask, "What does this have to do with the price of beans btw then and now?? And my response is absolutely nothing .... other than then the bull was learning to crawl before it could snort and now it is of ripe age losing steam.......Let's see if there ends up being any similarities from a technician standpoint going forward... If so, Dow in Feb is (we will use Jan 2 close of 7965 to reach 6930 (down13%) and by summer 6690 area (16%) . Incidentally, 6600 level is huge shelf of support and if we ever take it out the next shelf of support is 5300- 5600 area. A long way off. I know this is poppycock from a fundamental argument, but technically,.///// anything is possible. Any thoughts??? JT
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News