Thursday, October 09, 2008

600 more pts to go for 8,000 on the Dow


SPY just jumped off a cliff and is free falling now. S&P down 40% from last year highs.

Dow futures almost to 8,000. This time last year we were above 14,000.

The last 2 days we have seen 500pt selloffs in the last hour of trading. We are at a 76% fib level. We broke 61% fib retrace like butter 2 days ago. 2002 lows,,here we come.

1 comments:

Ken on 1:49 PM said...

You have to buy when it looks the worst. This is all the dumb panic money selling now, the smart people left a year ago. Personally, I'm wanting the S&P to hit the mid 800 level on a dive and will load up on futures and calls.

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