I have a number S&P 1094.50 projection higher. Now what does DOW mean 10000, NOTHING it is just a number like 9000 or 9216 :) technically it has no significance and I find it very hard to see why it should be significant.
I have been back for little over a week and I am yet to see anything of much difference in the market but I am taking my time here to see what happens. I must admit the present action doesn't make technicians like me too excited and less trading is what is required special in the equity side of the markets and it can be seen in the relatively low market participation.
Now get ready for all the talking heads to chat about DOW 10000 like it means something but then ask them what does it mean. Ask them what has the dollar done in 2009? The fact that the dollar can now buy much less, no one is talking about the REAL problems here with the dollar decline and equity prices. Again yep you invest in the market and you stocks are up 10% but the buying power of the dollar when you sell that stock is down 20%, did you come out on top? Nope but the mass media wont sell you on that because they are so fixated on the DOW, 30 stocks in the world of millions.
Well not much to report because really I don't see much happening so just relax and stay put, this is how the market is.
MARKETJEDI
Wednesday, October 14, 2009
Hmmm
Trying S&P short here 1083.
Could be an awful play due to price but time tells me different. I will hold onto this one
Could be an awful play due to price but time tells me different. I will hold onto this one
Subscribe to:
Posts (Atom)
