Monday, March 02, 2009

Stocks Tumble



The stock market broke down today with the Dow Jones Industrials crashing through the 7000 level. The last time the dow was this low was back in 1997! Seems like everything is getting pulled down along with the market which makes trying to pick a bottom very risky.

2 comments:

Anonymous said...

watch for 600-610 area. 66% retracement. Big fibonacci level. Curious that the vix is carely above 50. Does that mean there is more to come?

Anonymous said...

All I am hearing is we have no support now . Before at least there was talk about support at certain levels. What do you see as being the smartest way to play this ? Wait for a re-test of whatever the "" new low " is going to be ?

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