To: Joseph Silent who wrote (8702) | 8/28/2012 11:41:39 AM | From: Joseph Silent | | | This is the same (daily) chart I posted a couple of weeks ago .................
but now updated. You'll see that the dashed-white guiding line which was our support has now become our resistance. We need to get past it. This line may not look like much but it is a key diagonal.
I'd like to think that we are headed for a touch of the dashed-maroon line.
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To: humble1 who wrote (8807) | 8/28/2012 11:59:57 AM | From: llap | | | Also good that consumer confidence is very subdued as per this a.m.'s Conference Board. Clearly not a time of irrational exuberance in any way. Lowest since November even with the market up quite a a bit since then. I'm always happy with low numbers. We're a galaxy away from the 1990's exuberance. |
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To: llap who wrote (8818) | 8/28/2012 12:23:19 PM | From: humble1 | | | llap: so very true re: the 1990's exuberance. for months and years the bulls came on ... finally the dow 100,000's were taken seriously. oh these cycles are just awesome! now we are the other way ... i get some good info off of bloomberg but the ghouls there are awful ... especially the overnight ones in europe. and the real doomers pop in from time to time, like an asteriod hitting
stuff like the spanish yields at a three month low (huge news and well opposite of what the groupthink said would happen) like just this morning get a 5 second blurb .... lol.
but ... i rant .... and all you folks know this anyway ... :) |
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To: humble1 who wrote (8819) | 8/28/2012 12:45:29 PM | From: zman69 | | | Yep. I call it the Pessimism Bubble... IMHO it will end up the same way all bubbles do, with the Sheeple who lap up all this doom and gloom getting squeezed mercilessly by a stock market boom that very few are prepared for. |
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