Latest (Sept. 23, 2008) Forecast On SPY

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1. Date: 2008-09-24 14:41:29
Subject: Latest (Sept. 23, 2008) Forecast On SPY
From: "ForecastS.Com" <S...@g...com> Search message by this author

The Congressioal hearings look more and more positive
that Congress was not about to simply rubber stamp the
bailout plan and issue a blank check.

This is evident from Tuesday's news. The forecasts
show that the bailout plan itself did not inspire much
confidence, until the public began to feel that someone,
namely Congress, is watching over their interests vs.
Wall Street.

The dramatic turnaround from very bearish reading of
Monday night to mildly positive reading of Tuesday
night, as shown below, illustrates this substantial
change of public sentiment.

It is this Congressional oversight over the bailout
plan that inspired public confidence, not the bailout
plan itself.

FORECASTS ON TICKER SYMBOL: SPY
SYMBOL, DATE, PRICE, FORECAST, PERCENT
SPY, 20080923, 120.0100, 1.3251, 1.1 <-- mildly positive
SPY, 20080922, 121.1000, -3.7062, -3.1 <-- Strong SELL
SPY, 20080919, 124.5300, -1.6718, -1.3 <-- Less negative
SPY, 20080918, 122.9000, -3.2546, -2.6 <-- SELL
SPY, 20080917, 116.7900, 4.4816, 3.8 <-- Strong BUY
SPY, 20080916, 122.6400, 0.9222, 0.8
SPY, 20080915, 119.3700, 1.6309, 1.4
SPY, 20080912, 125.9200, -2.2014, -1.7 <-- SELL
SPY, 20080911, 125.3600, 0.6379, 0.5
SPY, 20080910, 123.5400, 0.9877, 0.8
SPY, 20080909, 123.2900, -0.4754, -0.4
SPY, 20080908, 126.9700, 0.3500, 0.3
SPY, 20080905, 125.8500, 1.0112, 0.8
SPY, 20080904, 123.5000, 2.6908, 2.2 <-- BUY
SPY, 20080903, 128.0400, 0.9324, 0.7
SPY, 20080902, 128.0200, -0.0445, -0.0
SPY, 20080829, 128.6500, -1.0711, -0.8
SPY, 20080828, 129.9800, -2.1714, -1.7 <-- SELL

[Above forecasts FYI only, not advice or recommendations.]

Undoubtedly, the lack of review and control over the bailout
plan would be a dangerous perpetuation, if not expansion, of
"business as usual" on Wall Street, and could reasonably be
considered highly toxic and bearish in Joe Public's mind.