The Dow Jones Industrial Average is set to sink to 6,400 within the next few weeks, Nicole Elliott, technical analyst at Mizuho Corporate Bank told CNBC.
“Any moment now I think we’re going to break lower,” Elliott told “Europe Tonight.”
“I expect this to be possibly before the end of November or very early December, I mean we’re almost on our way now and it’s just a question of how far down do we go,” she said.
The Dow [.DJIA 8424.75 --- UNCH (0) ] managed to close above its October low of 8,175.77 on Tuesday, but slipped below that level during the trading session. Market watchers are divided on whether the recent lows mark a base from which to rally, or a pit stop on the way lower.
“This is not a base at all, we’re nowhere near bottom yet,” Elliott said.
After the initial sharp slump the index could fall further, but in a more gradual decline, according to Elliott.
November 19th, 2008 at 6:47 am
wow, elliot says “nowhere near the bottom yet” i can agree with that. 6,400 in a couple of weeks is heading toward what alex’s guest said about 5000 bottom !!!!!!!!!!!!! head for the hills !!!!!!!!!
http://www.youtube.com/profile.....iew=videos
goldieshouse.piczo.com
November 19th, 2008 at 6:49 am
TRANSCRIPT; Max Keiser – Aljazeera English News – 16 November 2008
(First a G-20 News Clip is shown)
(Interviewer – Question) ” Max, positive words there from these world leaders, will the financial markets be cheering on monday morning? ”
(Max Keiser – Answer) ” No, Bush misspoke he said that the worlds economies where hit hard but that’s not true. The worlds counterfeiting schemes where hit hard, the bond counterfeiting schemes from Wall street in the city of London where hit hard. The counterfeiting schemes that has been exposed and the problem is that these G-20 Nations are not willing to get rid of the scoundrels and the criminals who are running the banks and putting in fraudulent faulty economy. Somebody should issue a fatwa against Henk Paulson. Somebody should issue a fatwa against Henk Paulson because he is an infidel. This is the constitution of the United States. He’s not obeying the spirit of the constitution. He’s issuing counterfeit money, counterfeit bonds. That’s why the global economy is in such a sad shape. The man is a financial terrorist! ”
(Interviewer – remark) ” OK, Max … the hype populi! (high totem-ly – hype totally! – ??) aside from one real..(reality), can I just ask you? ”
(Max Keiser – Answer) ” I mean that’s the reality of the situation. That’s not the hype populi!! That’s not the hype populi!! ”
(Interviewer – remark) ” Well I am sure they are not counterfeit as you…(say)? ,
(Max Keiser – Answer) ” That’s not the hype populi!, that’s the reality of the situation. They are absolutely counterfeit! These bo…(bonds) ”
(Interviewer- Question somewhat irritated) ” So, the solution is what? The solution is what!!!? ”
(Max Keiser – Answer) ” You have to go to a court of law take Henk Paulson and Goldman Sachs up for financial terrorism, put them in jail! This is counterfeiting they’re issuing bonds that are absolutely non collateralized. There’s 1200 trillion dollars worth of derivatives with no collateral. ”
(Interviewer – Question) “OK, That maybe one solution. (Huh?) That maybe one responds to Henk Paulson but as far as the international global economy is concerned we have matters like; should the IMF be reformed, should countries like China and India have a bigger say in regulation and moderation of the global market? Did any of these get addressed and are these the way forward? ”
(Max Keiser – Answer) ” China, India, Europe all the banks own structured financial products sold to them from Wall Street. These are all counterfeit bonds that are exploding they are worth zero. For example they have no way of selling these bonds because they have zero value. As a result they dump oil and oil, because they are dumping oil to pay for these fraudulent bonds the price of oil has dropped and these developing nations are suffering because of this counterfeiting scheme that has zero value. Bush is completely incorrect when he says the Global economy is suffering it’s the global counterfeiting scheme that’s suffering. These guys are criminals. There should be a fatwa against these guys. He’s an infidel. Henk Paulson, his head should be bouncing down the Capital steps!
I am sorry but that’s the reality of the situation! ”
(END)
November 19th, 2008 at 7:57 am
I see opportunity here!
November 19th, 2008 at 8:04 am
It will keep going down until enough wealth has been stripped from american ‘citizens’ to satisfy your masters.
November 19th, 2008 at 9:41 am
Post 3, if you see opportunity well then short the market, if you got the balls to do it that is,
thank you alex jones, you have made me a rich man ever since road to tyranny, been spread betting on gold and silver ever since i realised how fake our money is.
November 19th, 2008 at 10:29 am
Well, let it keep sinking. Maybe people will begin to wake up once their retirement funds and savings are swallowed by the filthy pigs in Goldman Sachs and the other elite banks. It’s usually only when people hit bottom that they can begin to wake up and admit their is a real problem.
November 19th, 2008 at 10:40 am
During the crash of 1929, the Dow dropped from a high of 381 in 1929 to a low of 41 in 1932. In other words it lost almost 90% of its peak value. It didn’t reach the 381 level again until 1954, 22 years later.
November 19th, 2008 at 10:51 am
My view is we do not see 6400 soon. A move below 7800 by Dec 23, yes but just around maybe 7600 and then a huge rally to new highs by Mar/Apr 2010. Click on my titile to see my Timer Trac verified results. Meanwhile, we are setting up for a huge rally maybe even starting today.
2010/2011 sees 3650.
November 19th, 2008 at 12:21 pm
From reading wave after wave of downward spiraling economic data, I somehow see the Dow sluffing down to about 5700 by Xmas. This whole ‘pump and dump’ scam the feds are pulling now is instrumental for them to swap their paper debt for solid assets (metals, commercial enterprise, banks, etc). Our dollar is being artificially overinflated so they can leverage more Asian and UK cash. If they continually weaken the foreign exchange rates, those overseas entities crash, then our 3 Stooges (Paulson, Bernanke, Bush) absorb corporations at pennies on the dollar. When they’re finished acquiring what they need, they will dump the market. Buy your gold now. It will skyrocket soon enough.
November 19th, 2008 at 1:33 pm
@Cycle Wave Master
I hope you are right. I’m not sure what you are basing this on though.
By the way, have any of you beaten the price of gold which I calculated as going up at roughly 15% a year since 2000?
November 19th, 2008 at 3:27 pm
Sure looks like they are getting there it is 7007 now.
November 19th, 2008 at 3:52 pm
Here’s today’s final market stats
Dow 7,997.28 -427.47 -5.07%
Nasdaq 1,386.42 -96.85 -6.53%
S&P 500 806.58 -52.54 -6.12%
Volatility 74.26 +6.62 +9.79% <- Wall St panic index
Dow Jones Wilshire 5000 8,014.25 -550.79 -6.43% <- Worldwide Equity
Nasdaq Financial (Other) … 2,298.70 -233.93 -9.24% <- WTF is ‘other’ anyway?
Nasdaq Bank 1,851.98 -134.15 -6.75%
Nasdaq Financial 1,699.79 -151.98 -8.21%
30 Yr Bond 3.9720% -0.1720
November 19th, 2008 at 4:26 pm
This is all part of the bigger plan and march to the nwo. Doubt this, go to whatdoesitmean.com for breaking international news critical for your safety in the USA. Consider reading free books by Ronald Weinland and the book of Enoch, hidden and written for us, now. As for you fallen angel/illuminati/freemason alien biters. You have a date with destiny on Pentecost 2012. Until the day, you know the location and all that you have stolen will comfort you not during this trib. Uh oh, the sleepy chemtrailed flock is awakened and armed in ways of your worst nightmares. Signed, the remnant/elohim
November 19th, 2008 at 9:09 pm
Sigh…
There IS NO BOTTOM.
Everything they learned in school about the market does not apply in this situation.
There is TOO MUCH WORLD DEBT.
There is TOO MUCH WORLD DEBT.
There is TOO MUCH WORLD DEBT.
There is TOO MUCH WORLD DEBT.
There is TOO MUCH WORLD DEBT.
There, I said it five times to drive the point home. You CAN’T recover when there are QUADRILLIONS of dollars of outstanding derivatives debt.
Paulson, and his whole damn generation is demonstrating how damn incompetent they really are.
The guy wear’s a nice suit, but that’s about all Paulson is worth to this country, an eff’en suit.
They say one thing one week, then they change their mind, then they go back to what they were saying, then they say everything looks good, then they say they have to change things again, then they say they need more money, then they say its worse then they thought, then they say “Wow” look at THAT, then they say, um, “we are working diligently”, then they say things should turn around soon, then they say blah blah blah blah blah and on and on and on and on and on and on and on and on and on and on and on and on and on and on…
… ad nausea.
They just talk. No substance, no knowledge, no understanding, no science. They just talk about statistics and other worthless bullshit. They talk about what the numbers are doing rather than understanding WHERE the numbers are coming from and WHY they are there.
Monetarist DOGMA caused this, and until these total MORONS are told to “take a hike” it will continue to slide, all the way to the “bottom”.
Whoops, but there IS no bottom.
To be honest, I am very surprised it is still above 6,000 at this point. God knows what crap they are pulling to keep it up. But regardless of what they do to keep the market up, the REAL FUCKING economy is still falling apart.
All we need now are some Gremlins running around causing havoc, that would complement the situation perfectly.
We have to get back to basics. FOOD, WATER, INFRASTRUCTURE.
http://larouchepac.com/
November 20th, 2008 at 2:31 am
Hi 14. You are very wise. The fed is printing money and has some major bank slush fund. Weird name but i read it at uaff.us and researched it. google fema and department of homeland security combined budget 2008 if you really want to get pissed. yeehaw, i made the red list for fema camp and get a free ride on a black hawk. freaks, keep up your good work and god bless in this here mess. love, annie
March 4th, 2009 at 5:26 pm
WHEN THE END COMES MONEY WISE AND A LOAF OF BREAD COSTS A BARREL FULL OF PAPER TRASH CURRENCY WHAT HAPPENS THEN. IF YOU HAVE GOLD STOCKS HOW WILL YOU GET PAID IF YOU SELL THEM. , WILL THE COLLAPSE OF AMERICA MEAN THE END OF AMERICAN STOCKS MMM.