Are we there or is there still pressure? Well nothing has changed in all the industries that support a robust economy... they are all contracting or collapsing...
Lots of selling today produced alot of Volume... in the Low of October there was high volume... and we had a few up days that followed... but we never recovered.
I count 9 new lows year to date... and zero new highs.
The crowd psychology is beginning to froth up around the crashing Markets... which should produce more down side pressure to culminate in an extreme escape from stocks that will really drop the market. Now for those of us who are still waiting to see the permanent turn in the market... there will soon be a gut wrenching fear that will drive us to join the dumping of our stocks... It will either be in the next few days... or maybe it will be at the next extreme push downward to the last time the DOW made an important top in the mid 90's... at 4,000.
The DOW... which, for our economy is the BEEF of the industries that support our economy... is down 46% from the top....we've never been HERE before...except in 1929... the Dow has lost 6,541 points from the top which is well over $12 Trillion! ... yes as much as the US GDP!!
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Comments for "7552.29 Slip Sliddin' Away"
December, 2007
