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aussiebear

IDS World Markets Mon 2nd March 09

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More Buffet losing his touch....

 

http://www.independent.ie/business/world/b...ks-1658249.html

 

"During 2008, I spent $244m for shares of two Irish banks that appeared cheap to me. At year end we wrote these holdings down to market: $27m, for an 89pc loss. Since then, the two stocks have declined even further," Mr Buffet confessed.

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The euro was pretty much in a sideways range last night and right now is out of that range moving to the upside.

 

Bags of support on Euro in this area (daily chart) so its a 50:50 call.

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Here's the current dow chart in weekly terms. Following the 1929 timeframe, a bottom will occur somewhere between week 55 and 89 with around a 60% decline. That would put the dow somewhere around 5700. A bounce back to 7200(old support) would then be in store.

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Welcome deflationspiral! Great to have a new perspective on the longer term!

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I'll go first. Modify the day according to your preference.

post-2160-1236004546.jpg

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spx 5 day cycle projection looks 718

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