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How about some contest? RB & AC each post their opinion for the S&P index close before each trading day. Who ever gets the closest to the actual results wins. Best out of seven days wins the contest - World Series style. The Loser is banned from posting in the 4 Elite Trader MAIN...

Who determines at what point the stock can't go any lower?

Well I guess that for now it looks like the Nasdaq is leading the market's direction, imho. The Russell 2k also. Perhaps money is rotating out of energy shocks into tech.

Did anyone notice that Crude Oil jumped 2% today?? Closed $58.42. I expect to see $60 oil soon, that could bring down prices.

The market internals are heavily bullish Adv/Dec 74% advances Adv/Dev Vol 78% up volume TRIN .82 be careful, it's very tough to short successfully in this kind of environment I have seen several TICKS up to 1250 or so. This kind of day could easily close near the high...

This strong change in market direction overnight is why I switched to day trading. ER2 up +1.13% today so far

The Nikki is now at 15,030.34 Nikki is Up 158.19 (1.06%) could spill over into US markets tomorrow. Dec 1st is historically a strong day for the markets.

Thanks everyone...Lots of great responses. But I think the original question has been mostly ignored. The question was not why did the S&P, the Dow and the Financials go down significantly today... My question was.... why did the Russell 2000, the Nasdaq and the Semis NOT follow the...

My question is... If today's drop was because of foreign money being pulled out of the market, then why the disparity between the Semis and the S&P500?? S&P - .67% Semis + .78% I would expect both indicators to go down hard if this was the start of a correction. But the Russell...

2-3 day short term indicators have got to be way oversold now in the S&P. The first day of December is historically a good day. If the Personal Income and Employment numbers are good, I think we could see higher prices by Friday's close.

What in the world happened today?? The Dow, S&P, Financials all slammed DOWN hard....!! and yet the Russell, Semis and Nasdaq UP slightly!?! :confused: Was it the Last day of the month window dressing? Was it Wash sale rule selling? Were Interest rate sensitive stocks dumped...

I love trading the Russell 2000 future ER2 never had a problem getting in or out and it jumps all over the place. Tax advantages to trading futures too..

what he said... This lack of capital could be a blessing in disguise. It could force you to go, kicking and screaming, into the very profitable world of trading index futures. Why fool around day-trading stocks on a 4-1 margin when you can trade futures with much better liquidity on...

This site looked interesting. Advertises 4-1 margin with a $2000 account. Must be offshore. http://www.alldaytraders.com/ I have no experience whatsoever with these folks, so buyer beware.

I'm out of my short with a few points.. Too many bulls around to get greedy As Stevie Miller knows... Go on take the money and run They got the money, hey You know they got away They headed down south and they're still running today Singin' go on take the money and run Go on...

I'm starting to see a lot of my indicators setting up for a quick swing trade to the short side. I would bet that any short taken right now would be profitable by Monday.

Interesting take from Cramer Cramer mentioned that hedge funds are feeling pressure and the average fund may be up about 8% to 12% this year because of good short selling strategies. Cramer thinks that all is about to change. Cramer believes hedge funds have no choice but to cover their...

One thing that could cap this rally is rising oil prices. Oil is back above $59 now in after hours trading. Tomorrow's EIA Petroleum Status Report could send it above $60 if the inventories are low.

Right. But it does tell us how many 'players' are in the market. If market participation is scarce, I personally tend to put less faith in what the breadth indicators are saying. cheers,

with the volume low this week and some traders taking the week off, I'm not sure how accurate the market breadth indicators are right now. I saw a huge spike up to 1350 on the TICK today, right after the FOMC notes. That's a very bullish number for the TICK to get that high. The day...