This may be fun to watch as the collapse continues....
How does a 10 year cup with a handle sound? How else are you going to get to DOW 19,000 by 2015? Of course we may see DOW 10,000 again before heading there because 11,750-7,200 = 4,550 and 14,200+4,550 = 18,750. What's a measley 250 points mean to Bull-headed numbers?
What does all this mean for the short term? I have no clue. But the bottom-line is I'll definitely be shopping long leaps when the "Liquidity Crisis" finally finds a bottom.
Check out GW...... getting long with a stop at $7.95.... 
Well talk about an outlier on the high side......
Where do we go from here analysis:
HUGE draw can only mean:
Bad for stocks
CALM the egg producer is being rumoured on a buyout, but here again is a lesson in fibonacci levels....... Check out the nice cup with a handle at the 100% line down to the 78.6% retracement for the handle and then BOOM explosion up to the 161.8% line. WOW.
"Our sales results for the quarter, while better than our forecast, reflect the realities of the continuing macro economic pressures on our industry," commented Robert A. Niblock, Lowe's chairman and CEO. "We saw relative strength in our seasonal sales as homeowners welcomed back spring and restored lawns and outdoor landscaping following the effects of last year's drought in much of the country. In addition, we believe our second quarter sales benefited from the economic impact of the fiscal stimulus tax rebates. Unfortunately, weakness in bigger ticket projects continues, particularly in markets most impacted by the housing downturn.
"Through disciplined expense controls we delivered solid earnings for the quarter," Niblock added. "We are encouraged by our results and our continued market share gains, but the macro economic factors pressuring consumers and the ongoing challenges and uncertainty of the financial markets suggest a cautious sales forecast for the balance of fiscal 2008 is prudent. We remain focused on positioning the company for long-term success while managing through the near-term challenges of the current environment."
During the quarter, Lowe's opened 23 new stores. As of August 1, 2008, Lowe's operated 1,577 stores in the United States and Canada representing 178.6 million square feet of retail selling space, a 10.5 percent increase over last year.
Lowe's Business Outlook Third Quarter 2008 (comparisons to third quarter 2007) -- The company expects to open approximately 38 new stores reflecting square footage growth of approximately 10 percent
-- Total sales are expected to increase 1 to 2 percent
-- The company expects comparable store sales to decline 5 to 7 percent
-- Earnings before interest and taxes as a percentage of sales (operating margin) is expected to decline approximately 290 basis points driven by the cycling of last year's $112 million reduction in self-insurance reserves for workers compensation and general liability claims in addition to payroll, fixed cost and depreciation deleverage
-- Store opening costs are expected to be approximately $34 million -- Diluted earnings per share of $0.27 to $0.31 are expected
-- Lowe's third quarter ends on October 31, 2008 with operating results to be publicly released on Monday, November 17, 2008 Fiscal Year 2008 (comparisons to fiscal year 2007)
-- The company expects to open approximately 120 stores in 2008 reflecting total square footage growth of 7 to 8 percent -- Total sales are expected to increase approximately 1 percent
-- The company expects comparable store sales to decline 6 to 7 percent -- Earnings before interest and taxes as a percentage of sales (operating margin) is expected to decline approximately 180 basis points -- Store opening costs are expected to be approximately $97 million -- Diluted earnings per share of $1.48 to $1.56 are expected for the fiscal year ending January 30, 2009
