Thursday, June 4, 2009

What happened to 880? Or the next 50 points down?

Weren't we supposed to break that? Or fall 50 on the S&P?

Why didn't that happen?

Oh that's right. It was advertised by Wall Street--and you had to pay to get that advice!

This market can't even close below 930! So you have 10 points down, and 100 points up, before you can pull back to 980.

Last weekend, I wrote this and it was widely disparaged.

And the market isn't rolling over, as advertised here. In fact, it's heading toward new highs next year. But it's first going to 980, and then 1040. And that move will be quick. Just like the move from 830 to 930 was.

Even though it was 100% accurate!

And finally, last Friday afternoon, we had the massive move in the S&P at the close. All weekend we heard the conspiracy story about this.

What happened?

Where are those folks?

I'm giving the bears 10 points down in the S&P, versus 100 up.

What a ridiculous crowd!


Anonymous said...

why do you think we are all of a sudden in a bull market? all the real news seem doom and gloom but we keep running higher? when do you think it's coming down? i hope you keep updating us.

thanks for all your good work.

Palmoni said...

Well at least I've been a bull since March 9th--now the street recognizes it.

Maybe their following Newton. Once in motion...

No seriously, stocks are the cheapest they have ever been in a generation, and bonds are the most dear.

So we go higher, much higher!

Ignore the news. It won't pay you!

Anonymous said...

thanks Palmoni!