Thursday, December 11, 2008

Special Update - Thursday night

News of the failure of the auto bailout has tanked an already weak market sending S&P globex futures down over 40 points from Thursday's close.

This on top of the late day's drop of 25 points is clearly an impulsive wave down, probably igniting the next drop to new market lows.

If so, the 7500 level on the DJIA should be tested and breached by this move.


A

9 comments:

Anonymous said...

Allan, do you think this will have any effect on NNVC?

Allan said...

Any effect on NNVC will fleeting at worse, negligible at best. NNVC is on the threshold of a new kind of medical treatment, the obliteration of menacing viruses from the human body. Considering the global impact of this kind of treatment, NNVC might very well be the only refuge as the bear market of 2008 morphs into the panic of 2009.

Kat said...

Hi Allan - if this pans out, makes me wish I had subscribed to the EW/NeoW stuff earlier, would've saved me an expected stop out on my Q's. But you live and learn, and with your guidance, it's a better learning curve.

Anonymous said...

Perhaps it is the leg down that people were expecting. Allan, do u think it is going to be the final one and that after which we can go long for weeks and months or else?

Anonymous said...

The trapdoor to Hell is opening!
Down we go.

Anonymous said...

No offense/disrespect/heart attacks, but personally I am hoping NNVC drops like crazy so I can buy more shares on the cheap. I've been buying from .56 - .84 and I'd like to get them when they were .10 each. 10 for a dollar! I dream (& slobber) of that opportunity!

-PENN STATE Eric

Wayne said...

Looks like the White House is gonna use TARP to stop the bleedin'. I think the market will start down but then probably recover before close. Or flip a coin, who knows ......

Anonymous said...

PennState Eric.....10 cents we don't think so haha....you should have been here a few years back when Allan told us to buy NNVC at 10 cents...Thanks again Allan!!!!! Gary

violinbf said...

Looks like the market just doesn't want to stay down.