Higher, lower....lot of help I am huh?
Like a lot of commentators, we posted the target levels of the October lows. Our post was "S&P 500 threatens to violate major support" on Tuesday. It seems like a good time to remind readers of the sub-head from a September 6, post:
those who speak do not know.
The Tao Te Ching
Nobody knows anything
Adventures in the Screen Trade
The Summit Above 8000
Market recoveries often feature a re-testing of previous lows, followed by dramatic turnarounds. And while this can cause indigestion for some, plenty of traders are aggressively using this to their advantage.On Oct. 10, the Dow Jones Industrial Average hit 7882.51, establishing a five-year intraday low for the index, then bounced to close at 8451. On Oct. 27, the index hit its five-year closing low of 8175.77, only to jump more than 600 points in the next session. Thursday, outlook warnings from Wal-Mart Stores Inc. and Intel Corp. pushed the Dow once again below that key 8000 level, before stocks rallied....MUCH MORE including this:Comment by - November 14, 2008 at 10:39 am