April 30, 2010
– Comments (8) |
RELATED TICKERS: DOW
...but I wouldn't be surprised if it ends the day down more than 200 points (or at least below 11,000).
I don't know why, it's just the feeling I have...
15 minutes left, Dow is down 145 points...
It's 4 PM and Dow closes at 11,007, down 160 points.
I guess I was close...
Rounding to the nearest hundred you were right! Have a good weekend.
This is just a correction..this was a busy week, alot bad news,but the market still held up pretty good ..Im proud of you market
Every talking head there is, and then some, has been "predicting" a "pull back." It would appear that it has finally begun. Take profits on any long positions now, I say. Especially if prices monday, usually an "up" day, tank again.
And your listening to the same idiots who told you to hold while the market tanked in 08. When everyone predicts a correction, it never happens.... Corrections most often occur when valuations become to high, or when the market moves too far ahead of fundamentals. Neither is the case right now, in my opinion. And with the earnings we just saw, I'd be amazed if there is still a correction. The Dow could potentially shed another 500 points or so, but I can see value hunters coming into the market in droves, placing bets on companies who recently reported very solid earnings, with good forecasts. With the market now well off its March 09 lows, and volatility returning, its better to be looking for companies who pay a nice, consistent dividend, particularly those in positions to increase it in the short term.
lemoneater, I like your math... :)
Have a nice weekend everybody.
Congratulations on another great call of yours ( LF) which you recommended not too long ago