Message Font: Serif | Sans-Serif
 
No. of Recommendations: 9
We tested 18,000 on the Dow and rallied off it back to 22,000.

Doesn't smell good to me though. It feels like a dead cat bounce. Just as the initial drop looked too steep/ too fast (driven by fear), the V recovery off the bottom feels false (driven by celebration of the stimulus). Reality seems to be setting back in, as it should. These are not good times.

Chances of retesting 18,000 seem high to me. It will be interesting to see if do retest and even more significantly, if we successfully hold that level. Thoughts from others?
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.