Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (168782)	7/9/2009 6:55:39 PM
From: SwampDogg	Respond to of 312554

IMO this is clearly a 'b' wave of an ABC correction off the March low. One could expect a 300 point rally in the $SPX off of whatever low is reached in the next couple of weeks (750-800). Target for the 'c' would be 1050-1100 This would be enough to form the base for the move to new lows. If one looks at charts of stocks like BAC it is very hard to be bearish IT/ That stock looks to have another huge move higher after it finds a low. No momo at all on this selloff and the bearish sentiment confirms that this is not the start of a move to new lows. A move in the $SPX to the 1050-1100 area would also make sense based on the following: 1) It would be a normal retracement price wise of the huge move off the highs of 2007 2) It would be a better Fib time fit for the rally relative to going down right here 3) It would hit the DT line off the highs 4) Nobody expects it Starting to think that we get one reinflation move in the coming months with the market doing well and gold doing even better. If gold makes a high in the $1500 range with the $SPX in the 1100 range IMO it is lights out for everything