Very Important Week for the Stock Market

Lots of bad news expected like any other week, but after a nearly two week rally in the market we could really see a sell off this week if the market can’t see the light at the end of the tunnel of bad news.  Most of the experts believe if the S&P can continue to close above 800, we should be alright. 

If it closes beneath 800, they have differing opinions on how low it will retrace this time, from half of the previous low on the optimistic side, to 500 on the bear side. 

Hold on to your hats, it will be a wild ride.

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16 responses to “Very Important Week for the Stock Market

  • Big Bob

    Neither General Motors nor Chrysler submitted acceptable plans to receive more federal bailout money – so this will be what the market will digest as the week opens…..and yes, hold on to your hats, it may be a wild ride.

  • Doug Miller

    Dow instantly down 260….lets hope the Bulls can fight back.

  • Big Bob

    Should recover somewhat today Tues by being up around +100 points

  • Doug Miller

    Good call Bob…..now lets see what happens when the employment numbers come out Friday…..ughhh

  • Doug Miller

    S&P couldn’t hold over 800….that has me worried.

  • Big Bob

    Looks like after today (Wed) the market has recovered back to where we started Monday. As for employment numbers coming out Friday, I think anything that comes out will just be nuetural to the market as it will not be anything truely “new” that they are not aware of that have been taken into account for the most part……

  • Randy Leake

    Thank you for the update Jim Cramer oops I mean Big Bob!!

  • Doug Miller

    Bob’s track record is much better than Cramer’s….

  • Big Bob

    Bouya…..

  • Big Bob

    Could be a 100+ point gain today (Thurs)……….

  • Big Bob

    Wow….never thought the market would go above 8000+ today…(it’s 10:15am)

  • Doug Miller

    Just wondering when this rally will run out of steam? I’m out of all my shorts for the time being, but I’m afraid when it turns south, it will go in a hurry.

  • Big Bob

    The onging question what type of new news/info (negative) can effect the market?? Unless something earth shattering comes out that already isn’t going on (example – Wells Fargo would go under – something like that no one expects would move the market) . Right now all the news (negative – such as unemployment, housing etc) isn’t anything really new that already hasn’t been taken into consideration.

    This is just my outake……

  • Doug Miller

    I agree that all the bad news is baked in, but at what point does the market say we have risen 30% in 22 days and everybody jumps out taking profits?

    VIX is still above 40, and I would sleep better at night if it dropped to the lower 30’s.

  • Jim Carson

    The entrepreneurial class in America is either 1) retiring early, or 2) cowering in fear of Obama.

    Look for double-digit unemployment by summer, lasting well into next year.

    Main Street Optimism is gone, and it’s going to take something big to get it back.

  • Big Bob

    I hear you Doug. We are already lapping the crisis mode. Keep in mind the subprime market started this crisis is 2005/6 and was completed exposed in by the end of 2007 – remember Countrywide? So that is why I feel the market is adjusting basis history we are lapping.

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