$INDU in doo-doo - Penny Stocks

Canestsal · Sat, 10-20-2007, 09:34 AM

I really do not like the long-term prospects for the Dow Jones Industrial Average. It is looking very bearish for the mid-term, and it seems as though sellers are beginning to take control. AJMHO.

Josh

capt_nemo · Sat, 10-20-2007, 08:35 PM

Quote:

Originally Posted by Canestsal

I really do not like the long-term prospects for the Dow Jones Industrial Average. It is looking very bearish for the mid-term, and it seems as though sellers are beginning to take control. AJMHO.

Josh

I saw a chart of the stocks that make up the DOW and very few have shown gains over the last year or so, but the Dow kept climbing!! I always thought ALL components of the Dow weighed in on the final price, This rise, IMHO has been artificially created, and is destined for a nice correction, back to reality of what the dow stocks and the market as a whole are really doing!!!! . ALL IMHO as always, Something has to give!!

whizknock · Sun, 10-21-2007, 09:00 AM

I hope you're both right! I don't see a correction as steep as 11250 but I do see a correction. Matter of fact I've been expecting it. Several months ago I shifted 95% of a secondary retirement account that was entirely invested in Mid Cap Growth & shifted it to a Bond Fund. For a while there I was thinking I that I made a bad move. The Bond Fund is now showing some respectable gains but my Mid Cap is still higher than when I jumped off of it. I would be very pleased to see this thing drop to the mid 12000s. If it goes as low as 11250 I will be feeling like a genius. LOL

I started pumping money in this thing in 1991 & kept loading up until 1994. Then I backed off & let that puppy grow. If I can get even a modest 10 or 15% correction I will put it all back on the Mid Cap Growth & let it ride. Unless of course it appears like the market sentiment is setting up for a dive. Then I'll put it back in at a measured pace. Like I said, I hope you two are right!

Canestsal · Sun, 10-21-2007, 11:01 AM

I think it is a very smart move to protect your assets at this stage in the game.

In my opinion, recent strength in gold and weakness in the american currency is a result of big money hedging against long-term american prospects.

I could go on about how the american economy is dependent on consumer spending ... and high oil prices and the credit crunch are going to kill $INDU large-cap earnings ... higher oil prices means more american dollars been spent outside america ... budget deficit ... blah blah blah ... but we've heard it a million times. IMHO, the charts are confirming all this at this time.

capt_nemo · Sun, 10-21-2007, 11:24 AM

with our money, I have read and heard they are letting go of all our$$$ they hold, Something like 1.3 tillion $$$ when and if those $$$ hit our market the flood will really knock down the value, That and Bush printing billions of new $$$ to fund his lil "NEEDED WAR" Bullchit I call on that!! Heck I think the Canadian dollar is worth more then the us dollar now. Isn't it? hasn't been that way for a while!!!! I hope seat belts are not going to be required for this ride!!!!!

Canestsal · Sun, 10-21-2007, 02:28 PM

Couldn't have said it better myself Rick.

Also, China is no longer using the US Dollar as a standard towards their currency ... they have switched over to the Euro!

In addition, did you know that foreign countries having been gobbling up US assets at an alarming rate? This just means more money going into pockets overseas.

Check this out (a must read imho):

Dubai Agrees To Acquire 20% Stake in Nasdaq Market - washingtonpost.com

capt_nemo · Sun, 10-21-2007, 06:29 PM

Quote:

Originally Posted by Canestsal

Couldn't have said it better myself Rick.

Also, China is no longer using the US Dollar as a standard towards their currency ... they have switched over to the Euro!

In addition, did you know that foreign countries having been gobbling up US assets at an alarming rate? This just means more money going into pockets overseas.

Check this out (a must read imho):

Dubai Agrees To Acquire 20% Stake in Nasdaq Market - washingtonpost.com

about just that!! Dubai wanting in on the Naz!!!! That sheik dewd is pretty zealous with his ways down there. Building things that folks say can't be done, Lots of $$$$ down there man, A friend of mine who worked for Boeing, Went out with that guy in one of his go fast ocean racing boats. The guy has a couple of everything, LOL

whizknock · Mon, 10-22-2007, 04:20 AM

You two present a strong argument for more than a 15% correction! I'm reading & following your posts with great interest! Thanks!

Canestsal · Mon, 10-22-2007, 06:41 AM

Going to be a lot of blood on the walls today:

BBC NEWS | Business | Global stocks see sharp declines

Canestsal · Mon, 10-22-2007, 06:47 AM

Going to be a lot of blood on the walls today:

BBC NEWS | Business | Global stocks see sharp declines

Sat, 10-20-2007, 09:34 AM	#1 (permalink)
Canestsal Super Member Join Date: Jul 2006 Location: Wine Country Posts: 439	$INDU in doo-doo I really do not like the long-term prospects for the Dow Jones Industrial Average. It is looking very bearish for the mid-term, and it seems as though sellers are beginning to take control. AJMHO. Josh __________________ "None are so hopelessly enslaved than those who falsely believe they are free" Johann Wolfgang von Goethe

Sun, 10-21-2007, 11:01 AM	#4 (permalink)
Canestsal Super Member Join Date: Jul 2006 Location: Wine Country Posts: 439	I think it is a very smart move to protect your assets at this stage in the game. In my opinion, recent strength in gold and weakness in the american currency is a result of big money hedging against long-term american prospects. I could go on about how the american economy is dependent on consumer spending ... and high oil prices and the credit crunch are going to kill $INDU large-cap earnings ... higher oil prices means more american dollars been spent outside america ... budget deficit ... blah blah blah ... but we've heard it a million times. IMHO, the charts are confirming all this at this time. __________________ "None are so hopelessly enslaved than those who falsely believe they are free" Johann Wolfgang von Goethe Last edited by Canestsal : Sun, 10-21-2007 at 01:55 PM.

Sun, 10-21-2007, 11:24 AM	#5 (permalink)
capt_nemo Realist,/Moderator!!! Join Date: Dec 2005 Location: My feet!!! Posts: 2,836	And China not wanting to play anymore with our money, I have read and heard they are letting go of all our$$$ they hold, Something like 1.3 tillion $$$ when and if those $$$ hit our market the flood will really knock down the value, That and Bush printing billions of new $$$ to fund his lil "NEEDED WAR" Bullchit I call on that!! Heck I think the Canadian dollar is worth more then the us dollar now. Isn't it? hasn't been that way for a while!!!! I hope seat belts are not going to be required for this ride!!!!! __________________ All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. Joseph Conrad, Use your own mind on what to buy and sell!!

Sun, 10-21-2007, 02:28 PM	#6 (permalink)
Canestsal Super Member Join Date: Jul 2006 Location: Wine Country Posts: 439	Couldn't have said it better myself Rick. Also, China is no longer using the US Dollar as a standard towards their currency ... they have switched over to the Euro! In addition, did you know that foreign countries having been gobbling up US assets at an alarming rate? This just means more money going into pockets overseas. Check this out (a must read imho): Dubai Agrees To Acquire 20% Stake in Nasdaq Market - washingtonpost.com __________________ "None are so hopelessly enslaved than those who falsely believe they are free" Johann Wolfgang von Goethe

Mon, 10-22-2007, 06:41 AM	#9 (permalink)
Canestsal Super Member Join Date: Jul 2006 Location: Wine Country Posts: 439	Going to be a lot of blood on the walls today: BBC NEWS \| Business \| Global stocks see sharp declines __________________ "None are so hopelessly enslaved than those who falsely believe they are free" Johann Wolfgang von Goethe

Sun, 10-21-2007, 09:00 AM	#3 (permalink)
whizknock Super Member Join Date: Jan 2006 Posts: 499	I hope you're both right! I don't see a correction as steep as 11250 but I do see a correction. Matter of fact I've been expecting it. Several months ago I shifted 95% of a secondary retirement account that was entirely invested in Mid Cap Growth & shifted it to a Bond Fund. For a while there I was thinking I that I made a bad move. The Bond Fund is now showing some respectable gains but my Mid Cap is still higher than when I jumped off of it. I would be very pleased to see this thing drop to the mid 12000s. If it goes as low as 11250 I will be feeling like a genius. LOL I started pumping money in this thing in 1991 & kept loading up until 1994. Then I backed off & let that puppy grow. If I can get even a modest 10 or 15% correction I will put it all back on the Mid Cap Growth & let it ride. Unless of course it appears like the market sentiment is setting up for a dive. Then I'll put it back in at a measured pace. Like I said, I hope you two are right!

Mon, 10-22-2007, 04:20 AM	#8 (permalink)
whizknock Super Member Join Date: Jan 2006 Posts: 499	You two present a strong argument for more than a 15% correction! I'm reading & following your posts with great interest! Thanks!

Mon, 10-22-2007, 06:47 AM	#10 (permalink)
Canestsal Super Member Join Date: Jul 2006 Location: Wine Country Posts: 439	Going to be a lot of blood on the walls today: BBC NEWS \| Business \| Global stocks see sharp declines __________________ "None are so hopelessly enslaved than those who falsely believe they are free" Johann Wolfgang von Goethe

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode