thursdays malaise, page-118

I reckon XJO be 3150 to 3200 on monday/tuesday. After this weeks data n figures from US there is another round of people deciding to exit the market most likely in disgust. Still not capitulation in my opinion. For that to happen theres got to be a selloff by those that bought into the market in the last 20 odd percent rise and at the first decent bounce around 4950/5000 and with a lot of people still hopeful that we are seeing the worst of global economic recession now rather than 6 months time i think there will be more downside One more bounce b4 final drop? In 3 months we should know next qtr round of data. If that data is better than 08 4th qtr then we might hold steady n up a bit but I think it will take mid year data to clinch it either way - By then (July 09) next wave of investors could be looking at the majority of their stock market wealth evaporate as SME's n other companies go to the wall for various reasons - all ultimately caused by seizing up of Consumer Spending. If that happens then XJO at about 2930/2950 as the bottom around july aug 09? as the last brave hopefuls capitulate. At least thats what im betting on.
Seems abt the right time frame .