Dow NEarly Down to Suze Orman's Floor

[WeDidIt]

Suze Orman said 8500 was the bottom.

We're currently at 8595.59.

Was Suze right or wrong?

Time will tell.

[GreenPartyVoter]

1. I'm an ignoramus. How is 8500 the bottom and not 0??

[high density]

4. OK, at zero I'm going to jump in and buy an infinite amount of the market!

[SoonerPride]

6. I'll buy infinity plus 1, so there

Gotta laugh because anyone wth a 401K or IRA is gettign whipped good right now.

Meanwhile the uberwealthy already moved to Dubai.

[The Magistrate]

8. A Trading Term, Ma'am

It indicates a level at which professionals feel stocks are undervalued in terms of actual worth of the businesses they represent, and so a point at which buyers will materialize in sufficient number to stabilize the prices, and even get them crippling up a bit again.

[GreenPartyVoter]

22. Ok, that makes more sense now. Thanks :^)

[gcomeau]

13. Well...

I think a 0 would effectively mean that every component of the entire United States economy had basically lost all material value. No matter how much of a crisis this ends up being, that really can't happen.

[GreenPartyVoter]

24. Oh, that makes sense as to why a 0 wouldn't happen. Something would still have to have some value

no matter how bad things get.

[Redbear]

15. The bottom of the downward trend.

As far down as it will go before it starts to climb again.

[doublethink]

2. I'd say 7700 ...... And that's being optimistic ..... but it's all speculation.

Isn't it.

[NotThisTime]

7. I thought it would be 9000, I was significantly wrong

[leftist.]

17. I'm with you, I was thinking 9,500 or so ...

... and even bought a little just to reinforce my thinking to myself. Doh!

[hogwyld]

23. I'm thinking 7,000 is the bottom

I sincerely hope that I will be proven wrong on my guess.

[Unsane]

3. she said 8,200 actually

[Abacus]

9. 8200 isn't likely low enough

I see supporter there, but mid 7000s are more compelling. Here is an e-mail I sent to my dad Monday when we were trading around 10k:

Trying to decide where the Dow is going, I have to look at history
that is older what my primary market software displays. I've pulled
some older numbers into Excel, which is helpful, but Excel doesn't
have the tools I would use to look at stock charts and makes it more
difficult to derive precise numbers, but here are the support levels
that I am seeing:

9700 Strong
9600 Strong
8750 Weak
8200 Moderate
7500 Strong

In general, the stronger the support, the more critical it is to hold
it; if we lose 9600ish I'd be betting on 7500 (+/-100) absent some
dramatic fundamental improvement to the economy.

[DJ13]

10. So we reach it tomorrow?

[JuniperLea]

5. My sources say the support level is between 7800 and 8400

I think Suze is wrong.

[thoughtcrime1984]

14. Could bust down through 7200, then where will it go?

I see no reason for optimism, even at 8000.

[JuniperLea]

11. Here's all the info I gathered yesterday...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4194475

[AllentownJake]

12. 6000

I believe the bottom is at 5000-6000 judging by the Japanese liquidity crisis in the 90s. About 1/3 the value from the high.

[thoughtcrime1984]

16. I was thinking 5000, you're about right. This is horrible. nt

[AllentownJake]

19. Absolutely terrible

Nothing you can do though. We won't hit the highs of 2007 again for 10 years.

[Nicholas D Wolfwood]

18. Suze Orman is a disgusting individual.

She has no problem telling people they're buying too much while she simultaneously tells them she should go out and buy a Buick on credit and Avon products. How the fuck did she ever even come CLOSE to being considered a credible financial expert is beyond me.

[mwb970]

25. I bought one of her audio books once. Once.

It was vapid yet inconsistent. Now I tune away when she comes on the TV.

[TheDonkey]

20. Get Suze on the phone!!! PANIC!

Seriously, this is fucked up. Wow. I'm still waiting for some sort of bounce and a leveling off. These past 3 days have been like a falling knife.

[cottonseed]

21. That's funny, about 5 months ago she was telling people to buy.

There as a big 400 point drop a few months ago... same bullshit, markets always come back, she was telling audiences to buy.

Can't believe people make careers out of telling people to pay off their credit cards and never get out of the market.