Where do we go from here?

10.10 pm now, and the Dow is up 121 points.
Well, what did I say several postings below about ..... bean sprouts and tomatoes? LOL

Yes, 121 pts up on a long down in a long bear mkt. let pray after this so call correction, then we rally till yr end,(up and down, of course) and no euro incident,
hope ang mo can kick the can futhter down the road, for us to make some before hell breakloose.
either Greece or the US debt ceiling ..will drown mkt. Too naive to think it is ok.
And as usual, tomolo most ppl may take this opportunity to sell to strength. But i will bet stock still got some breath till 4 q...so buy on dip.
good luck to all.

If the republican block Obama and refuse to debt ceiling increase without spending cut and there we have it.
US credit rating will be hard hit. And i believe these ruthless republican will stand in the way. Afterall, it is election next year., and they dont want to side with democrate, they will definitely stand in the way. We will kjnow as we get close to 2/8.
well, how one will protect himself if mrkt is hit hard? I dont know, but at the mean time before august, we hope to ride the rally and hope there is one for us to profit and get out, and i will just apply trailing and stop loss, that is all  i can do if it come to pass.
Then we have Greece, but i think euro may last till next year, when the rest of the pigs will come down on their knee, they are in recession, no way they can get out of trap, that is when Germany and France will be out of wit, the too big to save will cause mkt to crash. First Spain, next Itally, then Eastern Europe will come on to the scene to create even hole. One by one, they will get downgrade from Moody and S&P.
I think this coming correction in gold, to buy some esp. silver.
I dont think to go long a good ideas, if thing come to pass, this will be very very pessimitic, that we may see a new low for a long time.
I think 2012 a be a year of reckoning.
not a call to buy or sell, but mho...
 

If the republican block Obama and refuse to debt ceiling increase without spending cut and there we have it.
US credit rating will be hard hit. And i believe these ruthless republican will stand in the way. Afterall, it is election next year., and they dont want to side with democrate, they will definitely stand in the way. We will kjnow as we get close to 2/8.
well, how one will protect himself if mrkt is hit hard? I dont know, but at the mean time before august, we hope to ride the rally and hope there is one for us to profit and get out, and i will just apply trailing and stop loss, that is all  i can do if it come to pass.
Then we have Greece, but i think euro may last till next year, when the rest of the pigs will come down on their knee, they are in recession, no way they can get out of trap, that is when Germany and France will be out of wit, the too big to save will cause mkt to crash. First Spain, next Itally, then Eastern Europe will come on to the scene to create even hole. One by one, they will get downgrade from Moody and S&P.
I think this coming correction in gold, to buy some esp. silver.
I dont think to go long a good ideas, if thing come to pass, this will be very very pessimitic, that we may see a new low for a long time.
I think 2012 a be a year of reckoning.
not a call to buy or sell, but mho...
 

@Cheongwee - I think most of what you said have already been factored in. Most countries or businesses are prepared for a fall out. An explosive market crash is unexpected , like the 2007 sub-prime when even the gurus were not aware of how bad the situation was. The domino effect also caught businesses off guard. But China was still growing at healthy pace even during the subprime fiasco when the global financial system was in danger of collapsing. China has emerged stronger and is now targeting local consumption,hence safer to buy China stocks which only sell locally. Re latest IMF report, China PPP GDP will be same as USA ( and EU ) in 2016 though nominal GDP will only be 60%. When will China's nominal GDP surpass USA will also depend on the inflation and exchange rate. nextbigfuture.com/2011/05/imf-gdp-and-pp...recasts-to-2016.html

Catalysts are still lacking in this market. To get a sustainable bottom, you need some selling climax with high volume or major +ve news to reverse the current risk adversion