Wednesday, March 14

Below 12,000 AGAIN


Yeppers, that's the Dow today, below 12,000 and probably still going lower at the end of this week when Quadruple Witching Friday occurs.
I had thought that these lows would trigger some buying around this level but
it appears, it's still a seller's market. If you are looking for some bargains,
you may need to wait a little longer and get out of the way of those sellers rushing for the exit doors.

When there's a sale at Macy's, everyone runs to buy a bargain.
When there's a sale on the Wall Street, everyone just runs (and sells).

Wait, be patient, those "market maker" guys have to make money too.
Eventually, the "buy" trigger will go off.
Be ready to "back up the truck" as Jim Cramer would say.
The Fed meets next week to "confer". Expect some action if they do cut rates in the following month.
They will. And don't forget to watch the .VIX (CBOE Volatility Index).
It peaked again today when the Dow slumped. Wooo! Scary...
The Dow closed above 12,100 so that counts for some support. Watch out though! It's a glass floor.

4 comments:

Saratica said...

Buenos dias! Hal suggests visiting www.elliotwave.com. The day before the 500 drop, he advised all his readers to use every bit of leverage they have and short the market. Wish we'd been players - working on that now.

Also, www.timingcube.com has always let us down the right path. $30/month and we made WAAAAAY more than that following their lead.

Mr. Chicken Little hovering over my shoulder says Mr. Cramer is flat wrong. Who knows?????

Hope it's not too hot today...

TICA MACHA said...

I'll have to check out those sites. Cable Tica lost their signal so no CNBC this morning. That's a good thing, I really don't want to watch the bouncing ball today.
I'm just curious, what is Cramer "flat wrong" about? I watch him but I don't trade on his recommendations.
It's hot as rip again today. Boy, I'll be happy when we get some rain.

Saratica said...

Cramer saying "back up the truck"... to us he sounds like a cheerleader. I think the TV shows can't afford to be bearish because they would lose their advertisers (not that CNBC has any advertisers but themselves) and if no one were playing the market, no one would watch... He is an entertaining guy, though!!!

TICA MACHA said...

Cramer's most redeeming quality is that he has brought trading down to a level that the average guy can understand and he has made it entertaining (somewhat) with the bells and whistles. He gets on my nerves though with all the yelling and antics.
He makes no bones about his show being about making money and NOT making friends. I have seen him insult many companies. Vonage was probably his biggest target.
I'm still sitting on cash mostly and haven't felt the urge to jump in yet.
It's so hot, I haven't felt the "urge" to do much!