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IBDvalueinvestin (99.67)

Re-Test of 7,500 DJIA now a certainty.

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January 20, 2009 – Comments (8)

Only question is how fast will it occur. We are only 500 points away from the re-test now.

The Nov. 21, 2008 low is now the benchmark, if that benchmark falls, then a new lower benchmark must take its place . Possibly 7,000 DJIA

8 Comments – Post Your Own

#1) On January 20, 2009 at 3:00 PM, carcassgrinder (37.43) wrote:

Amused by anyone who uses the word "certainty" to predict this market....:)

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#2) On January 20, 2009 at 3:07 PM, IBDvalueinvestin (99.67) wrote:

Yes its certain..

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#3) On January 20, 2009 at 3:24 PM, carcassgrinder (37.43) wrote:

Stop....you're killing me with the "certain" $hit!!!

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#4) On January 20, 2009 at 3:33 PM, goldminingXpert (29.46) wrote:

It won't be now, but 7,500 will test... and fail... in 2009.

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#5) On January 20, 2009 at 4:03 PM, IBDvalueinvestin (99.67) wrote:

we are now only -444 points away from 7,500 DJIA set on Nov. 21, 2008 Lowpoint.

Damn that could be set in just 2 to 3 days with losses like today.

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#6) On January 20, 2009 at 4:29 PM, Option1307 (29.75) wrote:

 goldminingXpert

While I never thought it would fail this early in the year. Im not so sure anymore. How can you be so confident it won't happen this/next week. Afterall, we have passed the S&P 500 resistance level of ~815. Not by much, but we did today. Tomorrow will be interesting and hopefully provide more insight into where we are heded in the near term.

 

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#7) On January 20, 2009 at 4:47 PM, goldminingXpert (29.46) wrote:

Government has too many bullets in its chamber. A complete rout of the market in the first week of Obama's term would destroy his presidency before it got started--he'll pull all the plugs to keep us afloat for as long as he can.

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#8) On January 20, 2009 at 4:53 PM, Option1307 (29.75) wrote:

Fair enough.

That's basically what I was thinking. In fact, we likely only got this low today because everyone was too busy celebrating in DC and no one was "at the wheel". It'll be interesting to see how things play out tomorrow.

 

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