Interesting...according to this article the dow has already crashed !!!! So maybe the only was is up. The link to the ful article is below but check these 3 graphs out;
http://www.financialsense.com/fsu/editorials/2007/0416.html
Really really interesting article that brings home the state of the US economy. All lies and damn lies and statistics rings so true.
Picture can get a lot worse. China will soon be building new computers & operating systems cars and mass produced electronic items with new standards. The valuation of the DOW and NASDAQs top companies will really be halved in another 10 years or so. Just discount their patents and licence fees. Imagine Microsoft valuation halved and the impact on their shares.
Imagine all licences being revoked to pirated software and the Chineese writing their own and giving it away for free like Linux or Open Office. Not far fetched or removed from reality. Imagine an new CPU and what would happen to AMD or INTEL?
The twin defecits have erroded Purchasing Power and this is no surprise. Aging popullation, health and pension and taxes and interest rate hikes as well as moving away from dollar standard to euro or gold will also hit the US economy when it has to buy it's expensive oil. Enough doom and gloom for today but real good read, many thanks 29I.
I'm still short on the DOW. Although up 50pips or so today over all since Friday I'm still down -18 pips.
I had too much of a good time over the weekend to bother checking. If I had I might have sold on Monday but there you go.
I think 13000 is possible in stages. 13150 - 13100 and then 13000. Give it a week or 10 days. Daily charts look so extended with divergence. MAs heading in right direction too.
Well since writing those pips I can now say I have recouped all losses and going couple of pips into positive territory. I think today is the start of something significant. I was expecting this last Wednesday but such is life.
Good trading everyone...