IF and I say IF- We get a decent bounce I have a couple of plays which I think will be totally awesome as they WILL set up nicely on a bounce.
SO STAY TUNED.
MARKETJEDI
Sunday, September 28, 2008
Bailout Thoughts
Well folks I think we will get a bailout plan signed but what does that mean for the markets is the real question. I think the markets will get a bounce especially financials and the tech sector.
Now the important question is how far do we bounce as we will still be in a bear market. My thoughts on this is purely technical but I could see us bouncing to the 200 MA on all the indices. Look for 1300 on the S&P, 2396 are on the Nasdaq and 11720 area on the DOW. Now I Hear Cramer calling for 8300 or something on the DOW well to me that signals a short term lows here and although I think we go much lower, it would be better the market trying higher here into some resistance before we fall on our backs again.
Now the important question is how far do we bounce as we will still be in a bear market. My thoughts on this is purely technical but I could see us bouncing to the 200 MA on all the indices. Look for 1300 on the S&P, 2396 are on the Nasdaq and 11720 area on the DOW. Now I Hear Cramer calling for 8300 or something on the DOW well to me that signals a short term lows here and although I think we go much lower, it would be better the market trying higher here into some resistance before we fall on our backs again.
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