Comments on: Watchlist for February 29, 2008 http://tradermike.net/2008/02/watchlist_for_february_29_2008/ Trading, Stocks, Stock Market, Money Mangement & Risk Management Thu, 04 Dec 2008 21:14:55 +0000 http://wordpress.org/?v=2.6.3 By: Sam http://tradermike.net/2008/02/watchlist_for_february_29_2008/#comment-9177 Sam Mon, 03 Mar 2008 03:17:01 +0000 http://tradermike.net/2008/02/watchlist_for_february_29_2008/#comment-9177 The last still-intact indices, closing Friday 2/29 near their last visible means of support at Dow 12000, NYSE 8800, NDX 1700 and RUT 675 - where they were the Friday before (2/22) in the last hour of trading - means that CNBC, Gasparino, the monoline supporting banks and the "see no evil" SEC now face a demand performance to repeat the 2/22, during-market-hours, unsubstantiated Ambac rescue rumor. With the leading bank and broker indices BKX and XBD collapsing to new 5 week lows 2/29, and Asia and Japan down 3% and 4% tonight 3/2, the market manipulators won't just need another miracle-rumor-short squeeze - they'll now need the impossible - to keep the last 4 indices above from breaking below the Jan 08 lows and confirming the official onset of the bear market downtrend. The last still-intact indices, closing Friday 2/29 near their last visible means of support at Dow 12000, NYSE 8800, NDX 1700 and RUT 675 - where they were the Friday before (2/22) in the last hour of trading - means that CNBC, Gasparino, the monoline supporting banks and the “see no evil” SEC now face a demand performance to repeat the 2/22, during-market-hours, unsubstantiated Ambac rescue rumor.

With the leading bank and broker indices BKX and XBD collapsing to new 5 week lows 2/29, and Asia and Japan down 3% and 4% tonight 3/2, the market manipulators won’t just need another miracle-rumor-short squeeze - they’ll now need the impossible - to keep the last 4 indices above from breaking below the Jan 08 lows and confirming the official onset of the bear market downtrend.

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