It's been a couple weeks since I last posted here, I think.  Anyway,
to the crux of what I came here to say.

I believe, provided that the current trend continue, that we could
crack 13,000, at least briefly.  If earnings are REALLY bad, I am led
to believe we could stay right in this stupid trading range.  2004
anyone?

My current feeling is that we will bottom out around Dow 10,800, if
11,700 were not the bottom, and it very well may have been.  But
assuming it were not, I have to go with 10,800 at least for now,
because something's STILL telling me we need to bottom out in the
neighborhood of 22.5%-23% from the all-time closing highs, though I
believe intraday we could touch 25% briefly.

But in order for this to happen, our economic situation must worse
than the street believes it to be.

That's all I have for now.  Happy Tuesday.

Allyn

Disagree!
11.700 is possible, but 10.800 is not possible for this term.

Dollar is too low, so there will be amazing trading opportunities at
these levels which will sent DJI above 12.000.

Only if Euro weakens you will see lower then 11.000 in 2008.

and the euro is not weakening?

some people would argue the opposite also, with regard to the US
dollar being too low and that not helping things.  especially in the
larger picture of our economy.

about the only thing that seems to have not gone up in price too much
is the cost of my donuts in the morning.

What we really need is the Columbian Free trade deal to be approved.
That will give the economy a shot in the arm it will bring new jobs
for workers here in the states and provide more earnings for
investers. If it is approved look for the market to take off to well
over 13k

This market is sick. Who on earth is buying.

News headlines consist of lay-offs, lower profits, write downs, poor
housing news. Even P/E ratios are looking poor now with regard to
profit estimates.

big we now know what the billions loaned is realy being used
for ......its so obviouse  its embaresing

We gapped down at the open, let Mr. Market fill the gap
and we'll be on the way :)

IMO, it'll break 13000 and then it heads back to 12200
The market has some buying interest in the financial sector
It is not reacting much on the news

This market lost momentum a week ago, It cant close above 12700.

I have a running bet with a friend that the bottom is 10500 give or
take 2.5%. We made this bet in Oct. 2007, and I have until 2011. I
hope to see it before then, because that is a long time to wait for a
beer.

Buy the beer now. They'll be twice the price in 2011 ;)

better buy the beer in advance man ...because it will be 3 times as
dear by then  .....its economics !

You will win the beer.

Is that cause 13,000 seems like a nice round number? heheh.... =P

Yesterday could have been the April high, it pierced 12,720 range and
that was it.  It couldn't even sustain 12,700 for more than 1 hour.
The market appears to have been trying very hard just to get to that
point, in 2 weeks.

I agree with the others though, we been talking about it off and on,
and that's about the billions of dollars loaned by the reserve being
injected in to the market right now.  If that is the case, it doesn't
seem to be doing much other than keeping the basement from falling
under.  Someone said a couple weeks ago, "30 billions doesn't buy you
much rally these days like it used to".  heheh

Read the following article from Bloomberg, on IMF projection
http://www.bloomberg.com/apps/news?pid=20601087&sid=aK1zAj5FZ9Io&refe...

Basically, $230B written down, another $700B to go.

In a similar article, Lehman Bros says it may only be $400B in total.

FED loans stop financials from bankruptcy but will fail to resurrect
the market for the toxicity currently existing.

Market goes lower.  That is my call.      Not until the dishonest
bankers, lenders and all related money players come to an honest
agreement where they are will the market return to a true bullish
trend.   By "agreement" I do not have an real clear idea what it must
be - I just know they are not agreeing now.

Who is buying? Me. I got some more PRC this morning at $1.31. It's a
wild little oil company with too much overhead and too little oil.

But it has considerable potential.  I've been to cautious to buy it,
but I watched Sheryl Crow's "Gasoline Will be Free," and it emboldened
me. :))

The market is irrelevant to me; I buy individual stocks.   The economy
is not irrelevant.

Miss Crow:  http://www.youtube.com/watch?v=I3Wk_jcfm3Y

I still think they (the bankers and brokers) are trying to prop things
up so the undereducated, emotional will be seduced into thinking the
bottom has been reached then we will see a huge sell off. Then gold
will shoot up over 1075 that will last for about 2 weeks then the cash
will go back into the market.

Crap my magic 8-ball just exploded

I think your right PRO....ben and co knew this recesion and the huge
writedowns were upon them and devised this so called loan strategy to
cussion the blow on stocks.....Not fair on our free market i know ,
and it stinks with underhanded deals  .    He will either be a hero
or he will make what greenspans caused look like an entree !
anyone agree ?

Yes I agree that I am right and thats why I gave myself five stars

We can give ourselves 5 stars? =D

not sure but I keep trying

Wait ...please someone give me 4..at least...I know your freind austin
would Pro my multi lingual googling mate !

hurrumph hurrumph!!

Ziggy...
I like when you say about eagles burning under the Greenspan sun.
It's a classic in this forum

Thanks pro....you remembered ...made that one up ...in the context of
things , wasnt too bad i thought