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11-12% rally alrighty then

Started by pkamm, 10/13/2008 10:42PM
Posted 10/13/2008 10:42PM Opening Post
So today was one of those explosive rallies I was talking about. The Dow is now fully 20% off its intraday lows from Friday (!!) -- again on volume that any time would represent a fabulously big day.

That said, the mood has gone from doomsday to exhuberant a little too quick for my tastes, and it has kind of the same 'feel' as the super-rallies we had during the bear market of 2000-2002. And while the vix has fallen out of its exponentially-upward accelarating curve of the last few days, the linear uptrend of volatility of the last couple weeks is still intact, albeit barely so.

Opinions? Predictions?
Posted 10/13/2008 11:39PM #1
Today created lots of gaps that will be filled.
Posted 10/14/2008 12:09AM #2
Fundamentally, American businesses do not realize that they are cooking the Golden Goose. The American worker is the American Consumer. Many employers are using this downturn as political cover for further job cuts. These pressures will continue to reduce the American propensity to consume. I think today's rise was fueled by bargain hunters. The fundamentals of the economy are still not great. Western political leaders have still not faced the essential challenge of globalism.


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I have several telescopes, but none are semi-APO, APO, or in anyway valuable.
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