dow unquestionably unstable and dangerous, page-43

if you look at a 15 year Dow chart, the next absolute major line of support is really at around 8000 - that mark has been supported twice, first in 1998, next in 2002 - so that makes the 8000 Dow pretty solid.... I'm thinking that we don't have to repeat exactly, and it happens that going back 5 years brings you to roughly a 9000 Dow which I think is not unreasonable if there is to be a further big fall (might not happen of course)....


the thing is, most market crises occur as bad events within a functioning financial system - this time it's not an event triggered crisis (I think the sub-prime fiasco is a symptom not the underlying cause), but the very system itself which is under scrutiny - so this is no ordinary financial crisis we're experiencing.... over time it will sort itself out, but I reckon most in financial circles are still waiting for all the worst news to come out?.....


just my view of it all....