There is a bad day (s) coming soon in our stock market.

I tried to get a chart to post, can't do it.

It was a bad day today for stocks, to be sure, but it is really just the opening.

And this has started, this "correction" - clearly.

Although I can't copy-paiste the chart - if you are in harms way right now I really suggest you take a hard look at the clearstation.com chart on the close today.

You can't help but get the feeling that big business just wrote our pretender president off here.

Guess who is going to pay the bill???

You guys play real safe right now.

Joe

How safe am I to have pulled out of the mutual funds and placed everything into a fixed interest account with my insurance company? I am retired. Slow growth, but steady.

correct move here.

It is why we see the strange pattern of two year notes trading under fed funds rates - they think the same. I do think federal instruments are safest, but in fact, insurance companies are my second choice.

I think it is true that slow and steady wins the race - every damn time.

You did ok.

Joe

I may move like a turtle, but at least I still have my house (shell).:9

Nothing wrong with moving like a turtle - nothing at all.

Best of luck,

Joe

I missed the last couple of years' higher ROI, but I sleep at night. I almost plunged back in a month ago. I am still better off in bonds vis-a-vis what I would have lost on 9/11.
I also surfed the real-estate pipeline, and did real well before that wave started to break. But at 58, I'm too old for that shit anymore.

Don't plunge into this.

Your unpaid adviser,

Joe

Seriously kidding, of course. Love your comments Joe.

Mac

Be careful demo tex - I want to be reading your posts for the next election!!

jOE

I have heard that there will be a significant redistribution of funds right before "checkmate"
From what you are seeing is this what it looks like?

then Martial Law. War with Iran. I don't think our Government would see this as checkmate, (because nuking Iran will not get us completely to a one world Gov.) but I'm just hoping Americans will revolt thus preventing any more senseless loss of life and liberty.

The stock market in no way reflects economic reality; if it DID, the Dow would have fallen below 9K long before now. Most of our recent economic growth has been illusory--only slightly above the rate of inflation and almost all fuelled by burgeoning consumer credit. I'd forget about the stock market and worry about the collapse of the housing bubble and the looming credit crisis as debtors default in the tens of millions; that's going to have far more impact.

is getting just as good as Bush at tanking the Market.

What do you think will happen, and why? If you can use photobucket.com to post your chart, that would be helpful.

One of our fellow posters was good enough to post the charts.

Take a hard look.

You could conclude that this is forming a head and shoulders pattern - it does. That is not good.
We are sitting on the right shoulder, and there is no support til we fall at least 600 points from here. And I don't think that support is very strong. Most technicians out there see it.

If you used Elliot theory I think you are looking at the begining of a c wave down - following a long wave up. This is VERY bad.

The long term charts are VERY VERY bad.

The thing that really bothers me - there was a distribution cycle(insider selling) starting from several months before the 11/04 election. It is been building ever since and gaining strength since that bastard won. It has been almost two years of strength at this point. I think it is going to snap like a rubber band. B*sh is bad for business - they know that just as much as we do.

I am looking at intermediate charts pointing to a bad July - But I know, the fall could be even worse. I mean REALLY bad. Either way, stay away from the equities for a few months.

Joe

And, I wanted to know why because I'm a novice. Thanks for the info.

You asked the right questions. It is really rare.

Stay out of this til after the elections.

And I really hope you do well.

Joe

Reminds me of that movie, "Airplane": I guess I picked a hell of a time to quit drinking!

Most people lose money in the market because they panic everytime there is a downdraft. When the bad news bears are out and people are nervous, that is exactly the time to be buying. Psychologically, however, it is very difficult for most people to do that when the opportunity arises.

Anxiety is a powerful force...stay strong. :-)

Nasdaq

Last Change %Change Volume
2,169.62 -49.79 -2.24 1,355,048


Dow Jones

Dow Jones Industrials 4:30PM
Last Change %Change Volume
11,048.71 -199.14 -1.77 124,527


Russell 2000

5:14PM
Last Change %Change Volume
713.91 -23.53 -3.19 0



Standard and Poors 500

5:14PM
Last Change %Change
1,265.29 -22.93 -1.77


edited to add the numbers

copy - paiste did not work for me.

Really, how???

Joe

that will bring up a page where you will see the 'url'...copy/paste the url.:hi:

Try it now and if you need help, I'll help you.

Just enter the URL for the photo where you type the message, if it's right it'll show in the message. You can check to make sure before you post with the preview function.

Some places block linked images and if so it won't work right, make sure to preview to be sure and use a place like photobucket.com if needed.

right click on the picture
left click properties
highlight picture addy
right click
left click where you want it

That means there's wholesale panic, and what's to stop the slide to say 1000? Panics are neither measured or logical. We could be on the cusp of global collapse into anarchy if what you predict comes true.

You are right that panics aren't logical.

As to collapse, B*sh sold out our Dollar - you should be talking to him about that.

Joe

:(

Don't ask me why, just a hunch.

;)

It looks pretty bad!

Sheesh. Any nice Belgian mutual funds, anyone?

Every year since 1962 the mid-term off-year presidential election cycle has resulted in a bottom followed by gains of 32-160%.

:-)

You be REALLY careful here.

This is an awful lot like 1987, it really is. Another off year election.

joe

After the bottom on September 19, 1986 (a midterm, non-presidential election year), the market advanced 55% over 11 months after experiencing a -8.6% correction prior to the September bottom.

I'm going to be careful not to let the bad news bears get me down, and I'm not going to try to time this correction by selling short. Looks to me like things are looking up, especially after we retake the congress in 06' (coincidentally), but you are entitled to your own opinion. That's what makes America great...let freedom, err, the closing bell, ring. :-)

This is really bad, worse that 87 in most respects.

I was a fin/ops principal in 87 - really this is scarier.

Get the hell out.

If I am wrong you can go back after October - If I am right you could save your ass here.

I hope you do ok,

Joe

Good luck to us all. :-)

when you say "get out" what do you mean

completely?
the serious/big investor in stocks or those who are speculating or just any of us little schlubs with any 401k or other funds in money markets

just to get some sense of what youre saying
i do get you think the market is heading in a very bad direction but just wondering what you mean by getting out

As completely as you can - out of stocks.

When equities fail all equities fail.

I think that is where we are at this point.

Bonds will do well. Gold will do well.

Stocks?? - the chart is dead.

That is what I mean.

Joe

But that's just me, maybe I'm wrong. :-)

I really do.

Joe

I took a maternity leave September 28th, 1987 - you can guess the rest. I never went back. Not even with a huge bribe. I was done.

I'm a farmer now (better risks :evilgrin: ), I only dabble and I am so-o-o-o glad I am out.

And never will be. :-)

since September 2001.