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

[violetisblue.livejournal.com]

I have no particular expertise here but I fully expect it to see it hit 5900 and lower. If it gets Larry Kudlow finally to shut the hell up about "mustard seeds" it might almost be worth it.