Possible 1 thousand point dow run in one day

MMASSASSIN · #1 (**permalink**) 10-27-2008, 12:53 PM

POSSIBLE 1 THOUSAND POINT DOW RUN .It seams the bears are running out of ammunition here, this could cause that sharp spike iv bee waiting for since last week. I still believe we can see and soon a thousand point dow intraday run simply because the sentiment has so many in shorts in this environment. a widespread short covering rally could become the biggest short covering single day rally in HISTORY. This is not a strait prediction I am casting here, just a possibility that I see as a very real one because of the current historic point drop we have seen. I am not making any new trades yet.

Naamplao · #2 (**permalink**) 10-27-2008, 02:55 PM

Quote:

Originally Posted by MMASSASSIN

POSSIBLE 1 THOUSAND POINT DOW RUN .It seams the bears are running out of ammunition here, this could cause that sharp spike iv bee waiting for since last week. I still believe we can see and soon a thousand point dow intraday run simply because the sentiment has so many in shorts in this environment. a widespread short covering rally could become the biggest short covering single day rally in HISTORY. This is not a strait prediction I am casting here, just a possibility that I see as a very real one because of the current historic point drop we have seen. I am not making any new trades yet.

You are dreaming my friend

Technical_Indicator · #3 (**permalink**) 10-28-2008, 04:31 PM

Quote:

Originally Posted by MMASSASSIN

POSSIBLE 1 THOUSAND POINT DOW RUN .It seams the bears are running out of ammunition here, this could cause that sharp spike iv bee waiting for since last week. I still believe we can see and soon a thousand point dow intraday run simply because the sentiment has so many in shorts in this environment. a widespread short covering rally could become the biggest short covering single day rally in HISTORY. This is not a strait prediction I am casting here, just a possibility that I see as a very real one because of the current historic point drop we have seen. I am not making any new trades yet.

It appears it's not a dream but a GREAT prediction, if you have not been watching MM's posts then now is a good time to start...

It would appear that MMASSASSIN was on to something here, great call buddy - 3:30pm DOW up over 600 points!

Naamplao · #4 (**permalink**) 10-28-2008, 06:30 PM

Well I will admit MM was right...we did it today.

Is it sustainable? I doubt it very much. Why? nothing has fundamentally changed in the world situation. Look for another 500+ fall around the cornor soon.

MMASSASSIN · #5 (**permalink**) 10-30-2008, 03:17 PM

it really wasent about anything changing as much as it was about overreaction. I mean we saw declines in a signol day that should tae months to unfold. We see prices at points that were irrationally low. The only change that was needed was a change in sentiment. And a governmental change is here welcome simply because its most likely for the opposing party of the one that resided during this . Weather one party is to blame is not important but what is important is the view of a shift towards anything different than what we have had thus far. Next I think OIL is set to begin moving up further brining the attraction towards solars. ESLR ticking with strength today $-).

RichterSteve · #6 (**permalink**) 10-31-2008, 06:58 PM

Just a question, If you had 5k to throw around in this crazy rollercoaster that will be in the next two weeks would anyone give there opinion on where?