Monday, June 7, 2010

Panic Coming Soon

We will hit 1040 sometime this week, and at that time, we're likely to have panic selling when the widely touted 1040 support fails.

4 comments:

Petsamo said...

SPX has a megaphone. This market's in trouble.

Anonymous said...

I agree with the other guy. You bears are pushing your luck. Now for a lot of you guys, you've been so whipped by the bull market that you were too hesitant to get short a market that just went down 165 points. And now that things are bad, you're expecting the market to align with your still bearish expectations? Well I"m afraid, you're all a little too late to the party now. You had your chance.

Ya'll should get ready to go home. The music is about to stop any minute now.

Anonymous said...

Owl, if it were that easy to predict the markets direction we'd all be millionaires.


Look for some type of bounce for a week or so before further deterioration.

Market Owl said...

We could bounce, in fact, I am hoping for one so I can get short.

But I don't think there will be a strong bounce before we go lower.
There are too many stuck bagholders waiting for a bounce to get out.