Equity Markets: Why It's A Long Way Down From Here

http://www.businessinsider.com/stocks-a-long-way-down-from-here-2010-5 ^ | Mike "Mish" Shedlock

[blam]

Equity Markets: Why It's A Long Way Down From Here

Mike "Mish" Shedlock
May. 7, 2010, 3:39 PM

While everyone is cheering Friday's rosy job's numbers, the market responded with a big fat "so what?"

Meanwhile, I have my eyes on a couple of charts that suggest "It Could Be A Long Way Down From Here"

$NDXA200R: Nasdaq 100 Percent of Stocks Above 200 Day Moving Average

$SPXA200R: S&P 500 Percent of Stocks Above 200 Day Moving Average

(Click on either chart for sharper image.)

For more on the jobs report please see Jobs Increase by 290,000; Unemployment Rate Rises to 9.9%; A Look at the Details

Assuming you believe those jobs numbers, a huge rise in employment is more than priced in.

Read more at Mish's Blog -->

[snip]

[Frantzie]

Hey Mish they “ain’t” rosy job numbers. maybe he was being sarcastic.

[albie]

The market said “so what” to the “rosy” job numbers because they know better. More like BULLSH&%!

[the invisib1e hand]

just a blurb on the VIX:

VIX Redux redux.

[jacquej]

Thank you for the posts on our economic mess, Blam.

Do you have a ping list? If so, please put me on it, so I don’t miss any of your posts.

[taxcontrol]

I see the next support test down around 9,000

[krogers58]

We all know the markets are rigged for the big fish, but at least in years past they at least attempted to hide the fact that they were manipulating the markets. Fast forward to yesterday, and its beyond all explanations, other than manipulation, whether its computer or human, its manipulation pure and simple. I dove right into the markets after the big crashes back in Oct of 2008, and again after March of 2009, realizing some of the largest gains in my life, but I’m done. Not gonna play in a rigged system where my fingers aren’t fast enough to save my bacon. I despise the market “reform” the dems have cooked up but let’s face it, reform of some kind is absolutely necessary or daring retail investors like myself won’t return. I am not averse to risk, but this market is too cuckoo for me.

[screaminsunshine]

We need to de-couple from the global market banks and go our own way. Screw a bunch or 3rd way international socialists.

[mainsail that]

I want my welfare!!!!

[blam]

"Do you have a ping list? If so, please put me on it, so I don’t miss any of your posts."

Thanks. Sorry, I don't have a ping list.

[mick]

Robert Prechter of Elliot Wave Theory predicts we are going to DOW 3000 eventually ( 4 to 6 yrs )

[AngelesCrestHighway]

That is probably true.....the market is ignoring everything...when the reality check hits...It could happen very fast.

[screaminsunshine]

Government Employees Attack!

[earglasses]

On occasion, Prechter has forecast a bottom of 300 (NOT thousand) on the Dow. And Arch Crawford, rated one of the best market timers in the business by Hulbert, says its going to fall that far before November of this year.

[A.A. Cunningham]

Business Insider

[mick]

Jeezzz.....I hadn’t heard that......thanks for the good cheer!:)

His latest issue of EW Theorist called the top any time between April 23 and May 7 before the final leg 3 super cycle collapse......the man nailed it.