Who's calling BOTTOM is now?...or lower? 11K flat?
lets here some numbers...
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This is just the beginning of a bear market.
11200 bottom tomorrow, long term cannot say!
^agreed
ask me again at 8:30 tomorrow
11k flat on the higher band, 10,9 at the lowest. 11,1 is my bet (this is all for tomorrow).
I'd 11,100-11,200 tomorrow. Depending on the employment data tmr though, it's tough to say how everything will be next week.
1180 on the S&P 500. However, this is a weak support. If it falls below that, straight down until a QE3 announcement.
There are some ridiculous buys out there right now. HES at a 7 multiple? When bond yields are this low???? Where do I sign up? lol
All the integrateds are ridiculously cheap. Some of the service and E&P names are as well (not all).
Solar stocks are ridiculously, ridiculously cheap. LDK at a 2 PE, 1x QUARTERLY revenues??? Lol you have to outright think the numbers are a fraud to not be buying that hand over fist.
The economy is jack shit because energy prices are high, but they aren't coming back down because the fundamentals for energy have changed. Cheap energy is gone, never to be seen again. This will limit economic growth. Thus, energy will outperform all sectors for the coming decades. Short overvalued, overyhyped discretionary spending crap like NFLX, GMCR, LNKD, etc and buy quality energy companies at attractive valuations. Sure, there will be shit days like this when energy lags all sectors, but I guarantee you will knock it out of the park if you have discipline and a long holding period.
And it's not just energy. FCX at an 8 multiple? C'mon guys, all these idiots are running to treasuries. TREASURIES!!!!!! Lol, the US is bankrupt and deflation will never happen long-term because they will print money. Equities are much, much, much better risk/reward relative to bonds. Either bond yields have to go up, or equity multiples have to go up. Short bonds, long commodities-related equities. If you have a long time horizon, it's guaranteed money.
Impossible to tell how far the market will drop, but it is long over due in my opinion. I do not see things getting better from here, only much worse
End of the beginning, but not beginning of the end
Alex, what energy companies are you looking at? Would love to hear your insight!
Looking at how Nikkei's doing, it's going to be another Bloodbath tomorrow...
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