What many may not know is: Currently, DOW futures for tomorrow's open are pointing DOWN for ANOTHER 130 points (currently @ 10,800) - may get worse before the night is through.
Anyway, if you remember my July post: DOW: Next Downside Support @ 10,700 , I mentioned 10,700 is a key downside support level and if we break through it, 10,200 becomes the next support - followed by support levels in the 9,000 range - my ultimate DOW prediction for 2008.
So, will the PPT be able to pull a rabbit out of their hat, or will we see 9K before year end?
Thoughts?
Randy
5 comments:
I think they will pull a rabbit out of there hat with the plunge protection team. I mean Fannie and Freddie collapse, the dollar rallys, commodites get crushed. Lehman goes under and the dollar sells off in overseas markets but miraculously charges back in strength. I mean, our paper financial system is failing and the dollar is rallying! Hurricanes are shutting down refineries and oil gets crushed! Do we live in an inverted reality here or what? I think they want to keep the markets afloat and gold and silver and oil and other commodities suppressed. Its part of their illusion they maintain to cover the wickedness that is the true reality. One of these days though their manipulations will stop working.
It's the greatest "magic show" the world has ever seen. Starting at the end of the Bretton Woods agreement in 71. And the world has been captivated by it. The bulk of the world is drunk over the "magic show".
Indeed looks like they found the rabbit today - Massive Central Bank monetary injections around the globe followed by the AIG taxpayer bailout - but I think the massively over-fed rabbit was diagnosed with diabetes and terminal cancer today, so suspect he won't be around too much longer... Additionally, the wolves are quite hungry,
Randy
I like the color and graphs on this blog.
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