Nice rally today. S&P 500 closed at 869.
Next goal is 878, a recent high. We should take it out.
The recent high to beat is 944. That is another 9% up.
If we go through that it could trigger the short covering panic of all time.
Nowadays 9% happens in a few days, so the big jump could come very soon.
On the other hand, all we need is to stay above 804. We could see another sell-off, but 804 should hold.
And finally, the longer we stay above the old low, the more it looks like this bull is the real thing.
skip to main |
skip to sidebar
Popular Posts
-
all that glitters is not gold hold 'em or fold 'em? Gold is ready to correct. The bulls are saying $1,300 in six months. I say the t...
-
So.... Finally had a vacant apartment coming up Tenant is moving end of May Started showing it on May 16 New tenant signed lease on May 18 T...
-
Who are the big short sellers? Who owned all the credit default swaps that wrecked AIG? Why are things being run for the benefit of the shor...
-
Is the economy already showing signs of overheating? Is there inflation? Is the rate of inflation increasing? Are there shortages or supply ...
-
Existing home sales down a lot. That is a good thing. We have invested too much in houses. Houses are liabilities. They are expensive to mai...
Total Pageviews
WHAT DO YOU LIKE THE MOST?
Followers
Blog Archive
About Me
- bix1951
- Los Angeles, California, United States
- Looks like I need to put up some biographical info and credentials. I am a graduate of UC Berkeley. I also went to law school for one year and then dropped out. What lawyers deal with (disputes and the potential for disputes) was not my cup of tea. I also went on to get a California Real Estate Broker's license. My livelihood for many years has been operating and managing apartments on the west side of Los Angeles.
3 comments:
Today we closed .63% below the recent high made on January 28. Shouldn't be hard to get up over that close of 874.09.
What we want to see is higher highs and higher lows. That is what makes a bull market.
didn't quite et up to a new high but so far holding above 804
today was interesting big selloff and then right back up on this news
government will directly help people with mortgages
standards will be developed to keep worthy owners in their homes
Very scary day today.
Big selloff
Some say this is a test of the November lows
Some say we will go through the lows and go down another 15%
S&P 500 got as low as 790
I sure hope it closes above 804
But I have been wrong before
so it is no big deal really
Post a Comment