Buying the dip.

[reno4nook]

The Market really should have gone up today.

The first days of October are historically very bullish. The start of a new quarter often promotes heavy buying.

And Crude Oil went down a couple bucks, which is very bullish.

Given that the market ignored this and broke some key support levels, I'd say we're heading down further.

There is just too much uncertainty about the effects of the hurricanes and peak oil. Until we start getting more encouraging economic numbers, uncertainty will keep the lid on this market.

I expect to stay short until late October.

 

[risktaker]

I guess the market took your lunch box away today. Go ask your papa for an advance on next week's allowance so you can play again tomorrow.

Quote from RNRBAND:

and a dickhead like you is always there to point that out

 

[EqtTrdr]

Quote from MacroEvent:

the inevitable 1230 break of the es today {earnings warnings, sector weaknesses, continued inflation worries, oil stocks selling} should have been ridden short like Seabiscuit!

whats the dang score already?


Heggies must be on institution goal line about now with oil selling..

just need that last push over the goal line to win with 01 secs left?

 

[dividend]

Quote from EqtTrdr:

have to wait for some fake selling to suck in shorts, so market can use them as rocket fuel for normal everyday straight up rally to da moon!!


at least I wait till selling on volume... then volume dries up and market reverses and keeps going straight back up on no volume..

all aboard!!

eqttdr ur a genius btw whats going to happen when greenie moves out next yr

 

[jackbyrd]

This MacroEvent seems like a knowledgable chap, yet when I read his post history I find he is like the Howard Cosell of trading commentary. We get a very interesting analysis of who is doing what, when they are doing it, what the score is. Very interesting stuff, but how in the world does one do anything with this as it is happening.

 

[jackbyrd]

I should have posted earlier, but I got word that all members of the Plunge Protection Team were at synagogue today. It's a most unfortunate event for my fellow bull market brethren. I will do my best to keep you chaps informed should such an event transpire again.

 

[hajimow]

I see lots of "LOL" and "Congrat" on this board as if it seems that everyone knows what he is doing and everyone is getting money. Are you happy with your $500 profit today? Did you count like your $5000 loss last week? Simply I don't beleive so. I also don't believe that today'd drop caused a buying opportunity. Some stocks are still way overvalued. My long swing picks are WIND(target 15), ADI (target (40-42)and INTC (27) and short picks are TXN (cover 29) and XLNX (cover 27). All need some patience.

 

[MacroEvent]

Quote from EqtTrdr:

whats the dang score already?


Heggies must be on institution goal line about now with oil selling..

just need that last push over the goal line to win with 01 secs left?

hedgies are up 37 to 30 with 3 minutes left on the clock and they just intercepted the institutions ball at the 1230.00 yard line....HAHAHAHAHA!!!!!!!!!

both teams have numerous injuries and the carnage is laying all over the field ------ the liquidity war has ripped both teams apart and will be a pyrrhic victory for the winner in the end.

 

[MacroEvent]

Quote from jackbyrd:

I should have posted earlier, but I got word that all members of the Plunge Protection Team were at synagogue today. It's a most unfortunate event for my fellow bull market brethren. I will do my best to keep you chaps informed should such an event transpire again.

actually the buying frenzy thought EOQ window dressing {or PPT as some would say} from the 29th and 30th was mostly foreign buyers dumping their liquidity into our markets {not synagogue frequenter's by any means}. they had their markets at highs {nikkei and eu markets} as we were testing our support, so they swapped markets. today they bailed HUGE as support broke, and then everyone else did too --- what a ride! We had no credible push friday, monday, or today and then the support broke {1230 on the es}. so that was all that was needed to re-entertain markets to reality of the overall earnings and economic situation and the sellers ran to the exits {the homebuilders and then oil stocks getting whacked did help push through support initially}.

 

[jackbyrd]

Quote from MacroEvent:

actually the buying frenzy thought EOQ window dressing {or PPT as some would say} from the 29th and 30th was mostly foreign buyers dumping their liquidity into our markets {not synagogue frequenter's by any means}. they had their markets at highs {nikkei and eu markets} as we were testing our support, so they swapped markets. today they bailed HUGE as support broke, and then everyone else did too --- what a ride! We had no credible push friday, monday, or today and then the support broke {1230 on the es}. so that was all that was needed to re-entertain markets to reality of the overall earnings and economic situation and the sellers ran to the exits {the homebuilders and then oil stocks getting whacked did help push through support initially}.

well stated chap. I would also add that it was very telling the sentiment of many of the perma-bull variety as the statistically significant period associated with the end of month transition neared completion. It did appear that many were positioning size based upon 1230 with complete confidence that this level would hold going forward. We have not seen such an avalanche of selling, dare I say, since the second week of April. Perhaps, we might include the end of 2nd Quarter as well, however, I feel the sentiment was much more polarized at this point in time.