just as we thought , just a bounce of support yesterday. looks like the support is breaking down now . to be confirmed next week. targets around or just below 3800 the charts say for this move
getting close to our initial target of 3800 or there abouts. of course i still think its going even lower but that was just an initial move from the highs.
even lower yea still hasnt even priced in the slowdown enough in earnings to come , pe ratio's etc are still high just based on this as well as other metrics
Stocks fell into a bear market on Friday with the S&P 500 now off 20% from its record
“Stocks are still liberally priced and the psychology that drove them upward for a decade has turned negative,” wrote George Ball, chairman at investment firm Sanders Morris Harris. “The average bear market lasts a year (338 days, more precisely). This downturn has run for only one-third of that, so it probably has more downside room to run, albeit punctuated by interim rallies.”
getting close to our initial target of 3800 or there abouts. of course i still think its going even lower but that was just an initial move from the highs.
even lower yea still hasnt even priced in the slowdown enough in earnings to come , pe ratio's etc are still high just based on this as well as other metrics
Stocks fell into a bear market on Friday with the S&P 500 now off 20% from its record
“Stocks are still liberally priced and the psychology that drove them upward for a decade has turned negative,” wrote George Ball, chairman at investment firm Sanders Morris Harris. “The average bear market lasts a year (338 days, more precisely). This downturn has run for only one-third of that, so it probably has more downside room to run, albeit punctuated by interim rallies.”
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Interesting view. It may be true that the US has used a low rates environment to bid up equity markets but I wouldn't say that, for example, the UK is any safer. It's just that in the UK people preferred to bid up housing. If countries allowed an asset bubble to develop investors are likely to take a kicking sooner or later, it won't particularly matter what that asset bubble is in.
I'm less pessimistic about OECD governments being able to protect their populations from rising consumer costs however. There are a lot of EM countries out there that have been subsidising food commodities and hydrocarbons using debt. They are running out of financing options however. Once they go belly-up pressure will start to be relieved on commodities.
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Originally Posted by bull....
yea still hasnt even priced in the slowdown enough in earnings to come , pe ratio's etc are still high just based on this as well as other metrics
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