Thursday's Market commentary
The technicals continued to show us the WSJ proior to the opening and
closing markets again Wednesday. " Wednesday, the studies suggest that
after some early market lows we bounce an try and put in a positive
close for the day. Look for the DJ-30 to hit the daily 50 SMA at 11,447,
with another support at 12,371. "
Our low was the morning and high at the close, at the hourly 50 sma.
Today, Thursday, the technicals suggest another up day, with VIX failing
the daily 50 sma, and the VXN and VXO volitility indexes also failing
the daily 200 SMA yesterday .
DJ-30 low supports are at 11,441.
QQQQ supports are at 44.79
SP-500 supports are at 1272
TODAY'S MARKET, Friday, September 5, 2008.
This market bottom call we have made this past July is NOT THE BOTTOM,
in my opinion, but a oversold bounce in a down market that has plenty of
road to travel in a down move yet to come. This bear market should
challenge some 2000 bear market lows.
I have posted this warning now since the July market lows, and now we
are thru the August lows with the move yesterday.
Yesterday the VIX did a bull kicker to the upside on the market open,
killing any hope of a up day from the get go causing us to miss the
market call for the day.
This is the start of our next leg down for the markets. It is still my
opinion that the markets are in for new lows that will match, or break
those of the 2000 market sell-off.
Today look for July lows to be tested immediately.
GOVERNMENT ECONOMIC REPORTS
Sep 2
12:00 AM
Auto Sales <http://biz.yahoo.com/c/terms/auto.html>
SECTOR MOVERS FROM FRIDAY'S MARKET
No sector picks today
GOLD, SILVER, AND PRECIOUS METALS
GOLD is dropping with the markets.
MOBO OVER THE 50 STOCKS
DXD
SDS
MZZ
SAI
UN
STOCKS < $2KRY
NBS
PTN
SNAP BACKS
BEAR BREAK OF 50 SMA AND MOBO
Indexes
EMINI CLASS FIRST WEEK OF SEPTEMBER, 3,4,5
last class this year
SOLD OUT
I will be back to the office this weekend to do our Sunday nite market
live chat.
At Sea Seminars
At Sea Seminars with David Elliott ONE ON ONE !
CRUISE THE MED WITH US: From VENICE to THE GREEK ISLES!
For the first time ever, we are offering a second cruise in the space of
a year: and this is something very special! Come sail with us from the
incredibly beautiful city of Venice, down the Dalmatian Coast on the
Adriatic Sea, into the sunny Eastern Mediterranean and around the corner
to Greece and the Greek Isles!
What could be better - combining business and pleasure may just be the
ticket to the vacation of a lifetime - and may even be written off! Take
advantage of one full and two half days of At-Sea travel to study with
David. Then spend the rest of a wonderful journey exploring with him,
dining with him, and picking his brain? at your leisure, all in some of
the most wonderful historic places on earth! Ship?s cabins are quite
reasonable, and the modest class price of $295 is applicable as a
discount off select WallStreetTeachers products*! So CLICK HERE to
reserve your spot - hey, can you really afford not to. Then contact
Bruce Utter at 1-888-333-3116 , or email him at
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Here's our ITINERARY and a just a bit about each wonderful stop:
Sat 10/4 Venice Italy; depart 5PM
Ah, Venice, truly unique in all the world! Renowned for its ?fluid
avenues, where boats provide door to door transportation around the
beautiful city. You'll want to come early and spend time wandering along
the Grand Canal and over the myriad bridges, through the tiny streets
where the only traffic is by foot, into St. Marcos Square...Venice is
not a place you'll easily forget.
Sun 10/5 Cruise the Adriatic: Classes held all day
Mon 10/6 Piraeus (Athens) Greece; dock 12, depart 8 PM
Athens, named for the Goddess Athena, became the capital of Greece in
1834. Athens will bring to mind the Golden Age of Greece in the 5th
century before Christ, when enormous strides in architecture,
literature, math and science, philosophy and medicine were made. Walk in
the footsteps of the ancients - Sophocles and Euripides, the great
playwrights; Hippocrates, Father of Medicine; Socrates, Plato, and
Aristotle, the greatest names in philosophy; and Herodotus, called the
Father of History. We'll hold morning classes, then we?ll visit the
Parthenon and the Temple of Athena Nike.
Tue 10/7 Mykonos Greece: dock 7 AM, depart 7 PM
According to mythology, Mykonos was where Heracles killed the giants.
The rocks around the island are supposedly their corpses! The harbor
esplanade is lined with open-air cafes where you may be visited by one
of the pelicans who are the island''s mascots; visit the famed
windmills, or travel to the little island of Delos, with ruins to rival
Delphi and Olympia. Read more about Mykonos Island.
Wed 10/8 Katakolon Greece: dock 12, depart 7 PM
We?ll hold classes in the morning, then spend the rest of the day
exploring. Katakolon is basically a port; it's close to the
archeological site of Olympia where the ancient Olympic Games were held;
and there's an Olympic Museum which promises to be most interesting.
Thu 10/9 Corfu Greece: dock 7 AM, depart 5 PM
Homer's Home: Odysseus? last stop was Corfu, where he was washed ashore
when his ship had sunk. The Achilleion Palace was built by the Empress
Elizabeth of Austria in 1891, and houses the Terrace of the Muses. Read
more about Corfu (Kerkyra).
Fri 10/10 Split Croatia: Arrive 8 AM, depart 6 PM (tendering to and fro)
The Emperor Diocletian was Dalmatia's most outstanding contribution to
the Roman Empire. He retired to his birthplace near Split and built a
magnificent palace, a fascinating place to explore. Begun in the Third
Century, it has been built and rebuilt; now this city within a city
displays architecture from the Romanesque to the Baroque.
Sat 10/11 ...and back to Venice Italy: Arrive 7 AM
Contact Allison at 407-719-2592 or
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for more
information.
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