Saturday, May 24, 2008

Downside Objective For The Dow



If you read my last post, you would know that I was turning cautious on the dow based on several reasons one of which was a double top formation. Since that post which was only a few days ago, the dow has fallen and is now approaching my downside objective of 12300.

4 comments:

anon the mouse said...

Hi Kevin-

How did you arrive at the downside objective?

Thanks,

Anon

Kevin said...

Take the width of the double top formation and double it

Sandro said...

It's not clear what is your timeframe for this objective? Days? Weeks?

Without timeframe it doesn't mean anything. Let me explain.

My downside projection for Dow for the next 18 months is something between 8,000 and 9,000. So in its journey from 12500 to 9000 it definitely will cross 12300. The question is when?

Kevin said...

Days, this is a short term trade

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites