HS Dent Forecast Update Monday, September 29, 2008
Despite a verbal agreement on a Treasury Plan, major bank failures in Belgium and England along with a Wachovia buy-out by Citibank at a very low $1 per share is weighing on the markets. This puts us back at the precipice. There is near-term support just above the September 18 lows at 10,780 on the Dow, 1,155 on the S&P 500, and 2,100 on the Nasdaq. If we can't hold these levels and see a reversal by Friday, then the markets may be in trouble to the downside again with the next targets back to 9,700 - 10,000 on the Dow. We will update if we see a need for further sell signals.
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I know that posting other websites is generally frowned upon, but this has to do w/ $$$ and not a promotion for another site, so figured it was okay.
Just thought we'd all like to know about this. I know I am worried, because of the buy out of Washington Mutual and all. That was a little closer to home, seeing as how it is one of my banks.
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Monday, September 29, 2008
Despite a verbal agreement on a Treasury Plan, major bank failures in Belgium
and England along with a Wachovia buy-out by Citibank at a very low $1 per share
is weighing on the markets. This puts us back at the precipice. There is
near-term support just above the September 18 lows at 10,780 on the Dow, 1,155
on the S&P 500, and 2,100 on the Nasdaq. If we can't hold these levels
and see a reversal by Friday, then the markets may be in trouble to the downside
again with the next targets back to 9,700 - 10,000 on the Dow. We will update if
we see a need for further sell signals.
PLEASE DO NOT REPLY TO THIS MESSAGE
AS THEY WILL BE AUTOMATICALLY REJECTED, COPYRIGHT 2008. For questions regarding
this message, please go to: