1% Correction Day On 1/18/07

it could if oil stabilizes and then starts going up---but right now, even with bad weather, it didn`t make the shorts cover their positions yet.

Oil might take that next leg down to the 40`s--and cases can be made for that being good or bad for the markets.
 
it is funny right now...as you have all this money running around trying to figure out where to go.....and every place they try sucks right now. But I just viewed the Nymex home page and all those commodities are in the green (don`t see that lately)!

http://www.nymex.com/index.aspx


commodities could be a refuge of last resort, or an inflation hedge.
 
Quote from BlueStreek:


The tech stocks are already headed for a respectable sell-off tomorrow, but I think the dow and s&p will join in, and we will get one of those massive sell-offs in all 3 indices.
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Make that FOUR indices....don't forget our beloved Russell 2000.....it's really gaining steam since the eRL futures have been exploding with volume lately.
 
Quote from BlueStreek:

what a bunch of morons.
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What is the purpose of calling everyone a bunch of morons? Does it make your "Chicken Little" calls easier to sleep on each night?

Even a blind squirrel finds a nut once in awhile. Keep picking these tops and one is bound to work out for you.
 
Well today was a start, at least the possibility of going down is still there lol. But with massive options exp tomorrow we could be back making new highs next week. A market as strong as the one we have had recently doesn't break down overnight, it takes a few weeks of buying the dip working less and less before people stop doing it, so like I said today was a start. The reaction to AAPL and IBM and the continuing sell off in OIL make me think that a 5-7% correction is a decent trade here given how cheap puts still are.

True, it is all about the exit. Volume is as good an indicator as I know in that regard.
 
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