In case you don’t know this week was the most volatile week in market history. The ups and downs left many investors guessing. Yet, the true numbers were for the month mark showing the Dow down nearly 9 percent. Ultimately, in the last month the supports faltered and the Dow has headed below them.
One common misconception is to be drawn into the day to day to swings. In volatility such as this when everyone is trying to guess the bottom volatility make sense, but over the long haul with the support gone, the markets will go lower than previously thought. How low? That is impossible to know.
8,200 A Possibility
Jay Feuerstein of Xenon Trading is a well respected futures trader who was recorded saying that he expects the Dow to go to 8,200. If this is the case Gold will surge more and those who can still get out of the market to save their gains should. 8,200 might not mean total collapse, but it indicates that something is amiss. Remember, this prediction is without factoring a European Banking melt down.
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