Black Monday
- Thread starter Trendytrader
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In defense of EqtTrdr he has been right for along time. Having said that there is a good chance for a short term rally.
But truthfully all bullshit aside a question for EqtTrdr; Do you think the market changed last week and this was the first leg down of a protracted bear market or at least a legit 10% correction or are we off to the races again?
But truthfully all bullshit aside a question for EqtTrdr; Do you think the market changed last week and this was the first leg down of a protracted bear market or at least a legit 10% correction or are we off to the races again?
Depending on international markets that are opening in the next few hours I would suggest at least a 200 down day on the DOW tomorrow. However, I do wonder if the PPT will intervene to force a short squeeze to the upside.
I am short via the ProShares ETF's - QID which offer 2X leverage, also I am stop loss covered. Otherwise mostly cashed up.
I am short via the ProShares ETF's - QID which offer 2X leverage, also I am stop loss covered. Otherwise mostly cashed up.
I would think brokers, funds, the governments and most of the big money have a huge interest in keeping this bull going. The majority of those interested in seeing it go down are some of the speculators, a minority in the broad picture. It will be interesting to see it play out this week.
New Zealand down .7%
Anyone watch Bulls and Bears on Fox news this past saturday, one of the predictions was GS up 10% by March 9th. It was Tobin that said it. 3 out of 5 on the show were bearish saying there is plenty of room to fall. Tobin was the only bull really out of the bunch saying buy this dip.
We may get some upside, but I believe it will be met with plenty of people unloading long positions. I would not be surprised to see a 150-200 point rally in the DOW sometime this week, however these rallies may be short lived.
We may get some upside, but I believe it will be met with plenty of people unloading long positions. I would not be surprised to see a 150-200 point rally in the DOW sometime this week, however these rallies may be short lived.
Do you guys really believe that we are headed down to 10,000 or even lower? We're due for a correction maybe, but down that low, I don't think so. Maybe the unraveling of the Yen carry trade has run its course and we stabilize around this level +-200pts for the next 2-4 weeks. As a currency trader myself, I think that it may have run its course.
the market might test BOJ, its been documented that in the past 115.00 is the line in the sand for BOJ. Currently at 116.78. So the carry trade blowout doesnt get resolved till this level is tested.
Bulls don't get it.
The psychological propensity is for people to avoid risk now. The last thing they want to live through is a 10% to 20% loss, when they can get a guaranteed 5.5% until this long anticipated correction is over.
It is now a self-fulfilling prophecy, and the die have been cast.
Psychology trumps all.
the markets are down, and there will be a constant downward pull on the market, a war on Iran and even better a few nukes on Iran will send the markets soaring up again, the heavier the strike the faster it will change coarse, and this is not only true about metals and oil but the overall market
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