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davejh23 (< 20)

SELL!!! We're right at the 200-day on the Dow...



June 14, 2010 – Comments (11)

...and BP is getting set to cut their dividend, while Obama is trying to put them out of business, etc...  We'll end the week below Dow 9,800.

This is a stupid prediction.  Don't trade based on it.  You're probably more likely to make money if you do the opposite.


11 Comments – Post Your Own

#1) On June 14, 2010 at 12:28 PM, cthomas1017 (98.64) wrote:

+1 Rec just for the disclaimer! 

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#2) On June 14, 2010 at 1:25 PM, jason2713 (< 20) wrote:

It always works that way although today's rally is based on BS in my opinion.

**Aprils** indrustrial output grew in Eurozone?  Who flippin cares?  This is before austerity measures were being enforced.  Nothing means squat until we see the numbers after they take full effect.  I'll be more interested in these numbers next quarter.

France cuts 100bn from their budget over the next few years.  I'll be interested in seeing their economic growth numbers through this period.  I foresee it not being rosey.

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#3) On June 14, 2010 at 1:43 PM, outoffocus (24.02) wrote:

All I've seen from the stock market since mid April is lower highs and lower lows. We fall 5%, jump 2%, fall 6%, jump 3%. Doesnt sound like the makings of a bull market to me but hey what do I know?

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#4) On June 14, 2010 at 2:11 PM, davejh23 (< 20) wrote:

Huge Greece downgrade...there had to be something to knock the wind out of the market...

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#5) On June 14, 2010 at 2:17 PM, davejh23 (< 20) wrote:

outoffocus...I agree.  This is another stupid prediction, but I'm guessing that the decline will steepen when the next short term high fails to top Dow 10K...50 day will cross below 200 day around the same time...more bad news will come out of Europe...etc...

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#6) On June 14, 2010 at 5:31 PM, jason2713 (< 20) wrote:

I thnk the best thing anyone can do right now is...nothing

I'm sitting on my hands, waiting for this thing to play out.  The people holding the cash will make out in the end.  Being invested will not be the way to capitalize on this market.  We keep flirting with 1100 and 10,300...only to give it up...time after time.

Sooner or later 1040 will give.

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#7) On June 14, 2010 at 11:14 PM, ralphmachio (< 20) wrote:

Actually, you hit the nail on the head with the title, and you will probably make the most money shorting this market.

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#8) On June 15, 2010 at 11:35 AM, jesusfreakinco (28.28) wrote:

Another meltup rally today.  Looking for an entry position to short the market again, but it is like catching a thrown knife (not falling).

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#9) On June 15, 2010 at 12:11 PM, dragonLZ (73.08) wrote:

There will be no reversal today.

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#10) On June 15, 2010 at 4:45 PM, dragonLZ (73.08) wrote:

Last time I said there will be no reversal today, market finished 200+ points up. I like it. 

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#11) On June 15, 2010 at 5:34 PM, MoneyWorksforMe (< 20) wrote:

Most--if not all--that has created this recent 12-13% sell-off has not gone away. In fact I believe the problems have become worse over time and the bearish picture less opaque. If you are sitting pretty today, I would look to sell into strength tomorrow if there is any. 

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