The capitulation is on as we have record volume today and we started with a gap sell off. Week 3 below weekly Bolls this week with a breakaway gap and in a week 13. Expect a volatile recovery second half or early next week but we are just in a volatile bottom building and it might take another week as we have to reach some targets one of them is a dive below 700 SPX the target zone is hard to define but 650-690 is what we should be looking for. Some strange things happen on accounts of strategist as Goldman took earnings down to 40 Dollar but said 650 might do the trick. Thats a strange analysis as at no bear market the low was set at 16 times PE it was exactly half the value. I still agree that 650 might serve as a temp low but we are inevitable heading for much lower levels. Obama and his team are a disaster when it comes to do good as they make phony promises and unsustainable calls not to talk of the fact that they are still not telling the truth. Why do they pump close to 1 tril in just 2 companies AIG and Citi but makes a strange 780 stimulus package over 2 years for up to 400 mil. US citizens that makes in proportions no sense. Why are all those financials terrorists still well and wealthy like Greenberg from AIG or FULD from Lehman of O'Neil from Merrill. These guys should sit in special prison facility as they have done more harm to the world than any claimed terrorist has.
Monday, March 2, 2009
SPX tech update - market update
The capitulation is on as we have record volume today and we started with a gap sell off. Week 3 below weekly Bolls this week with a breakaway gap and in a week 13. Expect a volatile recovery second half or early next week but we are just in a volatile bottom building and it might take another week as we have to reach some targets one of them is a dive below 700 SPX the target zone is hard to define but 650-690 is what we should be looking for. Some strange things happen on accounts of strategist as Goldman took earnings down to 40 Dollar but said 650 might do the trick. Thats a strange analysis as at no bear market the low was set at 16 times PE it was exactly half the value. I still agree that 650 might serve as a temp low but we are inevitable heading for much lower levels. Obama and his team are a disaster when it comes to do good as they make phony promises and unsustainable calls not to talk of the fact that they are still not telling the truth. Why do they pump close to 1 tril in just 2 companies AIG and Citi but makes a strange 780 stimulus package over 2 years for up to 400 mil. US citizens that makes in proportions no sense. Why are all those financials terrorists still well and wealthy like Greenberg from AIG or FULD from Lehman of O'Neil from Merrill. These guys should sit in special prison facility as they have done more harm to the world than any claimed terrorist has.
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