Tagged: DIA RSS

  • Pete 12:17 PM on August 31, 2010 Permalink
    Tags: DIA,   

    Looking for Dow 9,000 

    Bespoke reporting:

    Yesterday after the close we asked readers which level the Dow would reach first — 9,000 or 11,000. The results are undoubtedly bearish, with 65% of the 881 respondents voting for 9,000. All types of investors read this site, so we believe this poll is pretty representative of the mood across the street. With nearly two-thirds of investors expecting the Dow to fall to 9,000 before it rises to 11,000, the mood out there right now is pretty dour.

    65% of those polled said Dow 9,000 first. Talk about sentiment!

     
    • patw 12:25 PM on August 31, 2010 Permalink | Log in to Reply

      Maybe the market can rally up from here, but what would upset people the most? Perhaps a trendless, sideways market?

      • Pete 12:39 PM on August 31, 2010 Permalink | Log in to Reply

        Patw see then never ask that in the Poll Dow 9k, Dow 11k or Dow Sideways,,, I bet out of all the people who voted a very small would say sideways. Most people think markets “Have” to go either Up OR Down. Will Mr. Market make it so easy for 65% of the voters to be right at the same time? hehe Your scenario of a trendless market is something that would make a lot of people upset and give up even more. How diabolical would that be? ;)

      • ArlingtonJB 12:46 PM on August 31, 2010 Permalink | Log in to Reply

        I think that is a flaw in the survey (I took it by the way). There should have been a sideways option AND a time element. I voted Dow 11k, because I think the market is close to a bottom, but I don’t think Dow 11k is going to happen anytime soon.

  • Pete 11:50 AM on July 27, 2010 Permalink
    Tags: DIA,   

    First Death Crosses, Now the 200-Day Moving Average 

    Jeff Cooper observes:

    On Monday the Dow Industrials and the Dow Transports closed convincingly above their respective June closing highs, leaving a Dow Theory confirmation of a bullish direction for the market.

    The question is whether this signal will be any better than the dark cross sell signal scored on July 1 when the 50-day moving average on the S&P crossed below the 200-day moving average.

    Bloomberg reports:

    Dow Erases 2010 Loss as S&P 500 Tops Moving Average
    The rally that erased the Dow Jones Industrial Average’s 2010 loss yesterday and carried the Standard & Poor’s 500 Index above its 200-day average spurred optimism among chart analysts and investors who track earnings.

    Wonder what Richard Russell thoughts are about this Dow Theory signal. Oh wait here it is :)

    A confirmed buy?
    To be sure, Russell has said that this buy signal has significance primarily for the short term, since on his interpretation stocks remain in a longer-term bear market. But any bullishness on his part represents quite a turnaround from the almost apocalyptic bearishness that Russell was espousing as recently as the end of June.

    At least we know what chart watchers are following carefully.

     
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