Any ideas or guess people?
Any ideas or guess people?
I reakon about now.
Heading back to 6450 ish.
wat is the definition of a correction? is it a certain % move?
IMO the market will trade sideways up until the election as there is uncertainty. It will be good to consolidate at these levels before pushing on again into the new year.
yeh, Im not a bear but I would agree with the other guys. I think we may see a small correction before octobers out but I think we will see a good run up to christmas after that
I am still bullish till at least late Jan/Early Feb 08, then I will switch to cash for the next correction
well something had to give we've had 8 straight weeks of positive gains ,i for one dont begrudge giving a little back.USA's reporting season started today with up to 80 leading companies reporting this week so we may be influence a fair bit by the DOW
November the 24th. And a long time coming.When is the next correction?
Historically november to april are a very good time for equities.
Then, sell in May, and go away
Depends on this burden of an index!
Check out my sharetrading blog @ www.allords.blogspot.com
look at all the stuff that we are expecting out of the US this week:
- Economic data should provide clues on interest rates and whether the US economy is heading for a recession.
- Busy week on the earnings front – 86 companies of the S&P 500 are scheduled to release 3Q results.
- The Fed will release their Beige Book on Wednesday.
- The Housing data is expected to stink…again.
- The homebuilders index fell to a 21 year low in September and economists are expected a further decline in October.
- The CPI should increase 0.3%, mainly on the back of higher energy prices. Core inflation is expected to rise by 0.2%.
- Thumbs down for building permits – they are expected to fall 3% to 1.28m, meaning building permits would have fallen 43% this year.
I think last night the DJIA and S&P set the mood for a correction. If anything adds to this we could be in for a solid correction.
Also, in Australia, AGL set the mood yesterday for a possible correction if any other companies report profit downgrades.
I am not alarmist and am generally bullish but there is a little too much happening in the US this week given that the mood will already be bearish with the 20th anniversary of the 1987 crash comming up this weekend.
You can basically expect a correction in nearly every quarter. In this last quarter that would be anytime before the Santa Claus rally.
ok here is the 10th anniversary figures for the DJIA:
10 oct 1997 - 8045
20 oct - 7921
24 oct - 7715
27 oct - 7161
hmmmm - doesnt say anything to me about the psych around the anniversary but i am now curious why there was such a big correction between the 10th and 27th in october of 1997.
No more corrections - only crashes. Probably black Friday
Humanity is just a discretionary ponzi scheme
In 97, we had the Asian financial crisis
turbulent, but still sub 7000 til march 08, then a year to be forgotten........
slowly back to sub 6000.................
and just when folks think the market sux,
get back in.
Gee it really does sound like we have a lot of bears on this thread...what happened to the positive sentiment?
I am still bullish, anyone care to join me for the Santa Rally (7000)