Black Tuesday - BEAR MARKET MODE GENTLEMEN!!!
- Thread starter jreynolds212
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Part of it is due to a prominent analyst, who said the credit crisis will exted into 2009. Bloomberg TV was citing this story as the reason for the drop in futures this morning........
http://www.reuters.com/article/bondsNews/idUSBNG8623720080520
http://www.reuters.com/article/bondsNews/idUSBNG8623720080520
I was watching SNPTraders video and thinking that Tuesday might be a big down day. Price was coiling up around that 1400 area all last week. This week it might unwind to the downside. I read somewhere that Tuesday is going to be a Fibonacci turn day.
There is a notable absence on this website of the hotshot guru traders and I believe they probably blew their accounts.
No hotshots, SNPTrader making the call and the Fibonacci turn day. All this is setting up for one thing and thats Black Tuesday...
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There is a notable absence on this website of the hotshot guru traders and I believe they probably blew their accounts.
No hotshots, SNPTrader making the call and the Fibonacci turn day. All this is setting up for one thing and thats Black Tuesday...
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Although i think we are in a long term recession and bear market, i like your post because it recognizes how far the market can move from economic reality. Can you give us an updated chart of number of stocks below their 50 day? That would be very nice to see. We could have a very fun minibull run here as a diversion from the general market direction. When the market appears for certain that it is going this way, you can be sure that it will go that way instead. But in the end, the state of the economy will win out.
Obviously it turned out that my bullishness in January was wrong. I followed the usual indicators and that's about as much as I can do. I don't have a crystal ball
In mid-March though I wrote: 12 Reasons Why This Is An Intermediate Bottom I started to become cautions in mid-April and more so as the market started to churn and more and more indicators turned bearish. We still have some turbulence ahead, although the long term significance of the March bottom is intact I think.
To answer your question, as of today's close, 56% of S&P 500 stocks are trading above their 50 day moving average.
Cheers
Obviously.
babak, do you have a track record in trading that you can share? All I see from you is constant directing to your blog, where you are pimping t-shirts. That shows you have an agenda with each of your posts, to make money from t-shirt sales.
I'm curious to see your trading track record because you love to knock successful traders. But where are your credentials?
Yes Mr. Gates you're right. I am the T-Shirt king! Both American Apparel and Gildan are shaking in their boots.
As you can see from visiting my trading blog over 96% of its surface area is taken up by ads for my awesome t-shirts. Did I mention I sell t-shirts? Just wanted to clear that up.
So please do not confuse the fact that I link to my blog to answer someone's question nor that content only is 4% of the blog. Now, lets get down to brass tacks, do you need a t-shirt? 'cause you certainly came to the right place!
Did I mention I sell t-shirts? Shall I put you down for say 25?
The only thing that I love better than selling t-shirts is to knock successful traders... like Jack Hershey and Waxie. So if you don't want to buy my t-shirts, let me get on with that, ok?
ps how do you go through so many handles? do you just stockpile them? get them wholesale?
As you can see from visiting my trading blog over 96% of its surface area is taken up by ads for my awesome t-shirts. Did I mention I sell t-shirts? Just wanted to clear that up.
So please do not confuse the fact that I link to my blog to answer someone's question nor that content only is 4% of the blog. Now, lets get down to brass tacks, do you need a t-shirt? 'cause you certainly came to the right place!
Did I mention I sell t-shirts? Shall I put you down for say 25?
The only thing that I love better than selling t-shirts is to knock successful traders... like Jack Hershey and Waxie. So if you don't want to buy my t-shirts, let me get on with that, ok?
ps how do you go through so many handles? do you just stockpile them? get them wholesale?
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