Friday, October 10, 2008
Stock Market Crash October 2008 Bottom for Investors (10/10/2008)
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We stayed late tonight until we can see the market touching a magic number. It is the number where bears lost to bulls at the end of the bear market that ended in March 03.
For the DOW that magic number is 8250. During the night only futures are open,
and they are trading at 8270, which is the equivalent in the cash market to the value of 8250. Ladies and Gentlmen: we are calling this a bottom.
We are entering this market in our retirement account. We are doing this because of multiple reasons on which we will dwell later (as the editor is now dead tired and wants to catch some early morning sleep). But the essence of the reason is that the previous bear market did the cleaning, and the area of the bottom for that bear market was 7250 to 8250, with the later the value being the level at which bears were defeated by bulls.
Therefore, we think that this is a potential good floor area for the short term (at least).
We will share with you how we are playing this, but we have given you the way we see it ahead of market opening.
Our retirement savings, which has been in cash for sometime now, will let some of our their own go back to wall street (to test the waters, and possibly catch some green dollars).
The reasoning here is valid only for investors, and assuming one buys an index.
Have a good night/day, and all the best!
For the DOW that magic number is 8250. During the night only futures are open,
and they are trading at 8270, which is the equivalent in the cash market to the value of 8250. Ladies and Gentlmen: we are calling this a bottom.
We are entering this market in our retirement account. We are doing this because of multiple reasons on which we will dwell later (as the editor is now dead tired and wants to catch some early morning sleep). But the essence of the reason is that the previous bear market did the cleaning, and the area of the bottom for that bear market was 7250 to 8250, with the later the value being the level at which bears were defeated by bulls.
Therefore, we think that this is a potential good floor area for the short term (at least).
We will share with you how we are playing this, but we have given you the way we see it ahead of market opening.
Our retirement savings, which has been in cash for sometime now, will let some of our their own go back to wall street (to test the waters, and possibly catch some green dollars).
The reasoning here is valid only for investors, and assuming one buys an index.
Have a good night/day, and all the best!
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