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dpdoor (29.97)

bottom at 2:33 today? 2/20/09

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February 20, 2009 – Comments (4)

In December I said when the dow hit 7400 I would go all in. I have notice that on many days 2:30 to 2:33 seems to be the lowest part of the day. So here Feb 20 2009 at 7:15 am I’m calling a bottom at 2:33 today. Lord help me.

4 Comments – Post Your Own

#1) On February 20, 2009 at 7:27 AM, viperjock (90.31) wrote:

It's my birthday--what a nice present that would be...

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#2) On February 20, 2009 at 7:58 AM, cbwang888 (25.92) wrote:

Last bottom was set on Nov 20ish when option expired that day.

If we gap down today and swing 400+ points down then up, I will call bottom. Otherwise, the market is just bleeding day by day ...

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#3) On February 20, 2009 at 8:23 AM, oldfashionedway (35.65) wrote:

An inflection point?  Doubt it.     A brief run up before the next leg in the downtrend.  Possibly.

GoodVibe's TA has been making many a convert these days.  (Can I get a witness!)  We very well may see $SPX below 650 before there is a meaningful upturn in the broader market.

Traders are very short sighted these days.  A chart showing 10+ years provides a historical context for what the market is doing,  and is a radically different frame of reference than that of a YTD chart.

Market bottoms are best called 6 months to 6 years after the fact.

Beware the Ides of March.

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#4) On February 20, 2009 at 9:00 AM, Mary953 (63.12) wrote:

Dpdoor -

Take a look at this link before you go all in.  Market conditions change and a prudent investor changes with them.  You are here so that argues that you are, in fact, a prudent investor.  http://market-ticker.org/archives/812-CAUTION-October-87-Re-Run-On-Deck.html  (repeat of the big drop of 1987?  If so, the big drop will be Monday - and since I don't usually check all the links on other blogs, one would have to assume that the Lord was helping Both of us, since I was also planning to buy in today!)

Viperjock - Happy Birthday!

Cbwang888 - I never seem to reply to you, but I have learned a great deal from your comments.  Thank you.

and Oldfashonedway - Yep!  A witness to GoodVibe's Tech Analysis here, for sure.  I am beginning to think that the stock market is not quite as big a gamble as Vegas.  Still a gamble, but I'm learning the game. 

Everyone, please do check that link.  I have no idea if it is correct or not.  I just know that I would rather wait an extra day and risk Not making a bit of money rather than jumping in a day early and losing a lot.  I remember that drop.  It was at the end of 8 years of huge gains and it was like a slap in the face to the entire country (we had forgotten that the market could go down).  I hate to think what a repeat in today's climate would be like.

AND PLEASE GIVE THIS POST SOME RECS!  I THINK THAT LINK REALLY NEEDS SOME CIRCULATION TO AS MANY PEOPLE AS POSSIBLE!

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