stock market

[rm]

A couple of months ago I called the market bottom at 6300.

Today we're at 6,594 and Citigroup closed at $1.02. I expect tomorrow to have "modest" losses (80 - 120 points? -- that's modest at this point).

When I called 6300, it seemed drastic. Now I'm questioning if we can hold the 6000 barrier. I'm tempted to stand by 6300, but 5900 would no longer be a surprise. I worry, however, that if we go below 5900, we go into free fall, that there are no more solid psychological barriers in place at that point.

Comments

[hakeber.livejournal.com]

I once figured it to be 5000, now I'm calling 3000. Hit max on that graph and wind the clock all the way back to the late eighties. That mountain you see is just monopoly money, made up of ponzi schemes. As they are found out, it all falls apart.

And Citi will wind up nationalized.

And GM insolvent.

[stardragonca.livejournal.com]

GM is fuckered. Citi, maybe. :(