DJIA 0.31% 26,683 dow jones industrials

george finally succeeded ... 2002 low gonsky

  1. 5,816 Posts.
    Hmmm ... as previously, we thought we had it nailed and with solid consolidation as major support on good volumes at the Fib(161.8%) at 8500. (We weren't phased at the low volume minor retest at 8000)

    Worth remembering that the US Fed originally said a big NO to any financial bail-out of Banks et al and we questioned whether "Paulson would blink" ... not only did Hank suddenly appear before Congress asking for the biggest free-lunch in world history but then he renegged on the deal dashing hopes of millions of mortgage holders desperate for a lifeline.

    Detroit also had a chat to Nancy and in a similiar story wants a trifling amount to save the auto industry from oblivion ... everyone is asking whether no means yes !!

    For us the big question has been answered ... every chartist has been wondering whether it could happen and yes folks it has ... George succeeded in breaking the only record left standing and yes blew the 2002 low !!! (well he came within 27 points of it ...)

    Those hedged/cashed can selectively ACCUMULATE at these levels ... a great collective sigh or relief that next US Treasury head is to be Timothy Geithner. (who??)

    [IMG[http://www.users.bigpond.com/equus2/dow112108.png[/IMG]


    Cheers ... tight stops.


    This is only my view ... read the black stuff.
 
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