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Looks like markets are in rally mode for today.
If they follow-thru the rest of the week (on good volume), then perhaps a bottom was formed.
Glad I exited (F) yesterday.
God Bless![]()
For those who have been stuck in the market, I'm very happy for the relief you received today. I know firsthand how that feels... really good for the psyche.
For those wanting to jump in, please remember what Tom said in today's comments- http://www.tsptalk.com/comments.html:
1. We are now looking to see a big move back over the S&P neckline on high volume. Today's volume was 6,364,925,952.00 and the neckline is approximately 1,380.
2. A market that does not sell-off, but rather continues to rally once it becomes overbought.
3. A test of the lows that holds and reverses up. I'm not sure yesterday qualifies as a successful test.
Please be patient before jumping in. Yes, you may miss a few snap rallies. But it's best to wait until the techinical picture becomes much clearer and the trend is UP!
God bless, and have a wonderful day.![]()
BAL on my part!!!I exited the (F) on Tuesday because of what I thought was pending bad news with the bond insurers as well as a possible snap rally. Well, it paid off because (F) is down 11 cents today.
Hey Norm... aren't you glad we went against the herd on this one???
God Bless![]()
Cramer is calling the bottom
For those of you stuck in this downtrend, it can become very discouraging and quite scary. I was there myself in the summer of 2006 (see previous posts in this thread during that period).
My advice would be not to give in and sell-off (like I had done). Stick it out, and actually DCA in with new monies... if that's your piece of cake.
Once this market takes off, it'll take off big. And if you are currently registering a loss, you don't want to miss that rebound.
We don't know when that rebound is going to come, or what will be its catalyst. But it will come.
Your patience and determination will pay off!
God Bless![]()
We have a new 2008 low that set in today- the Nasdaq. It now sits at:
2,278.75
Next in line is the EFA, which is only .11 away from a new 2008 low.
The S&P still has 15.96 to drop before a new 2008 low sets in.
Hopefully the REAL bottom will set in soon.
God Bless![]()
Thanks Rod, Really didn't notice it till your post. Good to know. My little 10% move didn't pan out not that I thought it would sincerly but now I think the market is going to make a move down. So 50/50 G/F for me.![]()
Next in line is the EFA, which is only .11 away from a new 2008 low.
On 1/23 the I fund had a price of $21.45 - and I bought a 1% position. Prior to that I bought a 3% position at $21.58 the day before.