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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Runomo™ who wrote (38104)	2/3/2009 7:59:49 PM
From: Turbodiesel	2 Recommendations Read Replies (3) \| Respond to of 209133

My delimia is, I have the NASDAQ and SP500 as ready to challenge the lows. I'm assuming the DOW goes along with them. However, the DOW is EXTREMELY oversold on a monthly basis. And yes, I'm looking for a pullback in the SP500 and NASDAQ in the 8-12% range. I believe, like a lot of people here, that we get a 50% rally. I just happen to believe it starts from a lower (new lows) level. We'll just have to wait and see. And on the monthly DJIA chart, when it turns up from the extreme oversold position, I'll post it. But, I won't know until the close of the last trading day of the month. Anyhow, 2009 downside targets I'm looking for are DJIA 6800, NASDAQ 1085, and SP500 600-650 area. From there, I believe we get that 50% rally. Again, just my opinions.