Heading back down with Friday afternoon market sell off. I actually think with US unemployment worsening and ISM non-manu also dropping this will eventually be seen as good news for equities as the next US rate move will be likely to be down and maybe coming sooner.
i think the markets in general could be in for a very torrid few weeks unless Dow has an unexpectedly strong day on Monday ....... if there is no further bad news on sub-prime etc over w/e that is just conceivable, though i shall not be betting on it until there is some positive indication ..... Dow after close just about struggled back over the potentially critical 13205 mark.
cynic - 04 Aug 2007 20:17 - 33 of 36
quite right and not only that .... if the markets stay jittery or worse (i reckon the latter) then second/third/fourth tier stocks such as this will take their customary exaggerated hammering
It could well bounce on 400p but also spend some time around that level - look at Nov/Dec06 on the graph. IF it does break lower, Fibonacci supports at 360p and 294p.