This is topic MARKET CALL MAY 2012 in forum General Investing Topics at Allstocks.com's Bulletin Board.


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Posted by BooDog on :
 
Last October the DOW saw a low of 10,404.49. May 1st ended a rally with the Dow reaching a high of 13,338.66. After reaching a new high there has been corrections to consolidate that put the lows of the corrections back under the lower bollinger and then the market begins a move back up. This poll is to see how many of you think this correction is finished and the DOW starts moving back up. Some in the media don't think so.

Poll question: Doese the DOW move back to test the high?
My vote is yes, today. Futures are breaking below 12,600 so still being cautious but I think there is a 50/50 chance. Hence the poll.

[Good Luck]
 
Posted by BooDog on :
 
At least my watch is right twice a day.

Day High
12,722.63

Day Low
12,597.76

crazy day for sure.

Sticking with my call?
Not with much optimism.
 
Posted by BooDog on :
 
Thanks for the vote, like to see a few more tell me how nuts I am.

Inverted hammer, if it has any hint of what is coming tomorrow...

My 12,600 broke and reversal seems to be far away. Thought I actually had a chance this morning.
 
Posted by BooDog on :
 
Many of the global markets including ours are looking to bounce. Look at France and Germany for example. I don't believe in following the herd but bucking the trend can be suicidal. I'm sitting on cash (around 50%) and watching to move in. After talking to a couple investors and reading a few blogs though they think the sky is falling and everyone should be running for their lives. Updating passports and making a run on the bank before heading to the boarder. Certainly JP Morgan’s fiasco isn't helping the confidence level on retail blue collars that have allotments sent to fund managers.
So, do we see a repeat of last summer?
 
Posted by BooDog on :
 
Went back to mostly cash again last week myself. Slowed down my trading big time and looking forward to summer. See if we get a decent market dip in July to make things more interesting going into the November elections with a possible new QE move.
 
Posted by BooDog on :
 
Figures. ANYONE have any trust in this market???
 
Posted by Happy Valley on :
 
quote:
Originally posted by BooDog:
Figures. ANYONE have any trust in this market???

Anytime I find myself starting to trust this market I pull up multi-year charts on stocks like: AA, X, AKS, FCX, CLF, BTU etc. etc. etc. Many commodity and hard asset plays trading at or below 09 lows...

But as long as we have Ipads, Burritos and Captain Kirk continues booking hotels I guess it's a bull market... [Razz]
 
Posted by BooDog on :
 
quote:
Originally posted by Happy Valley:
quote:
Originally posted by BooDog:
Figures. ANYONE have any trust in this market???

Anytime I find myself starting to trust this market I pull up multi-year charts on stocks like: AA, X, AKS, FCX, CLF, BTU etc. etc. etc. Many commodity and hard asset plays trading at or below 09 lows...

But as long as we have Ipads, Burritos and Captain Kirk continues booking hotels I guess it's a bull market... [Razz]

Maybe that'll be better than my crystal ball method [Big Grin]
 


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