Ok folks we have just gone through the floor

[nadinbrzezinski]

This will not be good, we just went through the floor

As to the G-7... I am almost betting on Bretton Woods II and we will NOT be on the drivers seat

[Warpy]

1. We're still above the floor

sad to say. The ranges I've read are 5000-8300 and the market will go below it for a time.

[phantom power]

2. You could think of "Dow 5000" as the equivalent of...

unwinding the housing bubble, and then going back just a few more years and unwinding the tech bubble.

I mean, it wasn't all that long ago that the Dow hit 5000 for the first time.

[Warpy]

4. Exactly, and most of my stocks were purchased

long before the Dow hit 3000. My dad threw every spare nickel into the market starting in the late 40s.

[phantom power]

5. Heh. Most of my stocks were purchased *after* "DOW 5000"

So you can imagine how entertaining my next IRA quarterly statements are going to be.

I've been thinking, we're about to find out how good my fund managers really are.

:evilgrin:

[Warpy]

6. I check my portfolio daily

and it's been a constant cause for amusement.

I never really trusted what I inherited, you see. I've always thought of it as temporary, the way everything in my life has been.

I'm going to celebrate later by rolling over some more loans at Kiva, helping people out who have much less than I do.

After all, you can't have gain without loss, victory without defeat. Might as well celebrate them all.

[phantom power]

3. Ya know, I'm still more worried about this credit-gridlock business...

except to whatever extent that the stock market and credit markets are now feeding each other's implosions in a positive feedback loop.

In that case, then I'm worried about both of them.

[truedelphi]

7. You know we are in trouble when the talking point is that

The folks at CNBC are waiting for a "sentiment change" to affect things.

[gopbuster]

8. Nadin.......

Here is something you might be interested in:

This is updated daily


New link: http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25035098

or copy image location and paste into browser will get you to the chart


The white horizontals are fibonacci % (notice 100% fib would be a seriously stretched rubber band)


Red is 200 monthly ema


Remember this is a monthly chart with all possible support levels

We are literally in uncharted territory now as we cracked the 200 monthly ema

If you like energy stocks....keep an eye on CHK for long term ...might be close to a buy here as well...as always do your due diligence and FA and you might want to wait until it settles

OVERSOLD big time down here