Is this a misquote? From the current 1367 to 1200? Were you talking about today and a day or two more and really mean 1300 or were you talking about the whole course of a correction (usually several months at least) and really mean 1200?
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Carnac's Corner
- Thread starter The_Technician
- Start date
Is this a misquote? From the current 1367 to 1200? Were you talking about today and a day or two more and really mean 1300 or were you talking about the whole course of a correction (usually several months at least) and really mean 1200?
The_Technician
Active member
If we get a good correction over the next few months we could hit 1200...I'm expecting a drop to 1290 before that.....probably before Christmas
mlk_man
Banned
Excellent commentary! You heard it here first ladies and gentlemen!
I'll do you one better, if we get an even bigger correction, we could hit 1000!!
ATCJeff
Well-known member
Now that would be a "severe" correction.....:cheesy:
The_Technician
Active member
Its down two days in a row mm...now this is the time for a comeback if any....so staying in mm could be the right play to reduce a loss....then again, if you invest the rest of your account in right now (50% in G) you can make money on the probable rebound....its a thought....of course, its all just a bet anyway....
A drop to 1000 would be a loss of about 26%. Since the worst one-day loss was in 1987 and was about 23%, you must be talking about two bad days in a row. Hope I am all G!!
robo
Well-known member
MARKET COMMENT
November 2, 2006
So tomorrow we have the all important employment numbers. Will they be too hot, too cold or just Goldilocks right? If the bulls are still in charge of equity markets, they’ll find a way to spin-it to justify higher prices unless of course they’ve taken a holiday.
Today bond investors were focused negatively on flat productivity growth which typically precedes inflation.
http://www.etfdigest.com/daveDaily.php
November 2, 2006
So tomorrow we have the all important employment numbers. Will they be too hot, too cold or just Goldilocks right? If the bulls are still in charge of equity markets, they’ll find a way to spin-it to justify higher prices unless of course they’ve taken a holiday.
Today bond investors were focused negatively on flat productivity growth which typically precedes inflation.
http://www.etfdigest.com/daveDaily.php
The_Technician
Active member
I's down 14 pennies.....dollar just strengthened quite substantially...
Can't say what the CSF funds will do today for the moment...
G fund didn't pay out yesterday....so the rate changes that I suspected were amongst us are in effect. This time of year will be difficult to predict the rate so expect the earliest date prediction from this corner....
The Crystal Ball rules....
Carnac
Can't say what the CSF funds will do today for the moment...
G fund didn't pay out yesterday....so the rate changes that I suspected were amongst us are in effect. This time of year will be difficult to predict the rate so expect the earliest date prediction from this corner....
The Crystal Ball rules....
Carnac
mlk_man
Banned
Rules what? Loserville?
Mike
Active member
From a story about the job numbers:
"That disappointment, however, was offset by much better job gains in the previous two months. Employers added 148,000 jobs in September, versus the 51,000 first reported. Payrolls grew by a robust 230,000 in August, stronger than the 188,000 slots previously recorded."
Question I have is how the heck can the initial estimate be so far off the mark? And if the initial estimate is missing that badly, why give it any weight at all?
"That disappointment, however, was offset by much better job gains in the previous two months. Employers added 148,000 jobs in September, versus the 51,000 first reported. Payrolls grew by a robust 230,000 in August, stronger than the 188,000 slots previously recorded."
Question I have is how the heck can the initial estimate be so far off the mark? And if the initial estimate is missing that badly, why give it any weight at all?
FUTURESTRADER
Active member
two possibilities...either it IS politically driven or our civil service compadres at the Treasury and Labor depts. are horribly incompetent. I'm leaning towards the former.
robo
Well-known member
Mike Burk says down next week so I posted here. Unbroken since 1930, WOW! You just never know what Mr. Market will do.
Conclusion
Last week the rally of the past few months ended going into what seasonally has been the strongest week of the year. I think it is likely that weakness will continue for another week or two.
I expect the major indices to be lower on Friday November 10 than they were on Friday November 3.
This report is free to anyone who wants it, so please tell your friends.
They can sign up at:
http://alphaim.net/signup.html
If it is not for you, reply with REMOVE in the subject line.
Last weeks positive forecast based on the unbroken since 1930 run of seasonal strength was a miss.
Thank you,
Mike Burk
YTD W22/L12/T10
Conclusion
Last week the rally of the past few months ended going into what seasonally has been the strongest week of the year. I think it is likely that weakness will continue for another week or two.
I expect the major indices to be lower on Friday November 10 than they were on Friday November 3.
This report is free to anyone who wants it, so please tell your friends.
They can sign up at:
http://alphaim.net/signup.html
If it is not for you, reply with REMOVE in the subject line.
Last weeks positive forecast based on the unbroken since 1930 run of seasonal strength was a miss.
Thank you,
Mike Burk
YTD W22/L12/T10
The_Technician
Active member
Its down two days in a row mm...now this is the time for a comeback if any....so staying in mm could be the right play to reduce a loss....then again, if you invest the rest of your account in right now (50% in G) you can make money on the probable rebound....its a thought....of course, its all just a bet anyway....
from mm's "loserville"......U Made money mm on Friday after I made this suggestion....glad to help ya....you just don't appreciate people at all...do you....:notrust: U won't be getting any more friendly suggestions from this way....
EZ is doing well....dollar is holding in a semi strengthened position....I fund is up unexpectedly 15 cents this morning....
mlk_man
Banned
Hey slick, trust me, I didn't jump because of you so don't pat yourself on the back too much. I liked how you give advice and then do the opposite though. Nice move going into that F fund. 8 weeks and counting, better step it up............did you see the weekly tracker?
Thanks for the help............
Thanks for the help............
mlk_man
Banned
Unexpectedly? Even with a crystal ball? Hmmmmmmmmm
The_Technician
Active member
Please pardon the misguided patron mm....he seems to be having memory and tongue problems of late....
AZ and EZ are down...dollar strengthening this morning......I is down (who'da figgered).....13 pennies....been ranging from -10 to -13 so far.....
AZ and EZ are down...dollar strengthening this morning......I is down (who'da figgered).....13 pennies....been ranging from -10 to -13 so far.....
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