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IBDvalueinvestin (98.62)

Today is what is considered a strong buy day by the Warren types.

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November 07, 2012 – Comments (5) | RELATED TICKERS: FAS , SPY , DIA

DJIA is at 12,948.27 right now and if charts are correct the new support is now at 13,000 and anything under this point is a good buy in the nearterm.

 

 

5 Comments – Post Your Own

#1) On November 07, 2012 at 1:44 PM, awallejr (37.00) wrote:

Yup I added a few things to my portfolio today.  Remember we still have Bernanke.

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#2) On November 07, 2012 at 11:38 PM, Valyooo (39.36) wrote:

So you want to buy UNDER support?

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#3) On November 08, 2012 at 4:41 AM, valuemoney (< 20) wrote:

Lol...... Valyoo is right........ that don't make any sense.

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#4) On November 08, 2012 at 12:31 PM, IBDvalueinvestin (98.62) wrote:

Just because new support is 13,000 for DJIA it does not mean it can't be broken and trade under it for a few days or weeks. Support just means that its the point where buyers will emerge at a certain point.

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#5) On November 15, 2012 at 2:20 PM, GundersonGroup (28.15) wrote:

Market manipulation dissuades buyers from entering at supposed support levels. Each time the volatility complex is crushed to force a fake risk-on rally the buy-in level of smart money managers is lowered.

Rallies are born from weak hands distributing to strong hands. If the weak hands refuse to relinquish their assets then your imaginary support levels are not support.

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