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Posted by btr Fri, 10 Oct 2008 02:18:00 GMT
The melt down continues. We have broken 9000 level. Looking back 10 years, the support level is around 7500.
Dow Jones Industrial Average is at oversold condition, but with current credit crisis still spreading and running its course, any technical bounce is possible but would not last long.
Unless you have significant cash positions, wait in sideline. Cash is king in this juncture.
Posted by btr Tue, 22 Jan 2008 05:57:00 GMT
US market was closed due to the MLK holiday but the other markets in the world had closed down a lot from 5 to 7%. Asia markets are down more than 5% the second day. How will the US market react? Unless it’s prolong decline, it might be a buying opportunity. But be carefuly the old saying “don’t catch the falling knife!”.
Dow Jones Industrial will break the 12,000 support for sure. Next support is 11,500.
Be careful tomorrow!
Posted by btr Thu, 01 Mar 2007 03:16:00 GMT
Dow Jones Industrial has broken its uptrend line. It will likely test the major support area at 12,000.
Tuesday’s big drop was the first in a few years.
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