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  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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November 23, 2011

Throw unders

Wednesday Nov 21, 2011

Art Cashin pegged SPX 1185 as his line in the sand on CNBC. I see others are picking 1192. All the chart guys are saying if this level is broken the bottom falls out. 

 

In pre market trading SPX is 1174. This would be a perfect set up for a repeat of the same thing 100 points lower October 3-4. 

Screen shot 2011-11-23 at 7.53.34 AM

Once everyone got short on the new low, the market reversed leaving many in the crowd headed in the wrong direction. This may well happen again either today or even better yet, say over the next two or three days. 

This is worth watching. A much better show than the football games tomorrow.....

Posted at 08:56 AM in Stock Market |

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