Black Monday? Bull Monday?

D

DisciplinedHedg

You make the call...

Seems Barrons and Newsweek are going bearish 2 1/2 years after the market peak. Ultimate contrarian indicator?

Or is this going to scare the daylights out of people and cause massive redemptions from fear of an October 1987. Maybe this will be a self fullfilling prophecy?

You make the call...
 
The 7400 area is a big resistance on the dow...but alot of traders still going to be careful IMO till Aug 14 when all the CEOs have to rereport earnings...who knows maybe they all will be better then we think :D
 
I suggest you always include an "I don't know option" in those polls ... it helps tip how many are currently out of it ...

Good Trading !
 
I think that options expiration can not be counted out as a large factor in yesterdays sell off. Most of the puts that had volume were nicely in the money, and this will drive things lower too. I think it had much more to do with things than re-allignment.

Brandon
 
Either friday was bottom, or monday will be a whoosh bottom. In any case, unless you're margined, it makes sense to add significant exposure. I think I'm nearing 150% long now (almost all of it was added moc friday). Think of it like a big rolling creschendo. Eventually it will climax. Buy stocks that you don't mind holding at these levels for a few months. I bought a lot, though not much of any particular one stock.

- In my experience, the best way to know it's a bottom is when you yourself are scared. I have made a career of bottom picking. If even Im afraid to go home long 200%, then we must be close. During small market bounces, I almost always end up 180%+ long. Now I'm much less long. It means something.
 
we may be due for a bounce but still no reason to be long over the weekend...plenty of time on Monday to get long if necessary
 
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