Concerns about today's rally

Quote from HolyGrail:

I am in total shock. I just downloaded all of today's information into my computer. As I have mentioned previously, I keep a bullish % index for about 820 of the highest volume stocks. You would think after a day like today you would see an increase in the number of stocks with bullish formations. Well it just didn't happen. We are at 23.97%. Yesterday was at 23.97. Not one change.

I cannot believe a 400 pt move in the dow, 47 in the s&p, and 86 point move in the nas did not increase the bullish %. This tells me the rally was not broad based and unless we see some nice follow through in the coming days this baby is going back down.
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Good call, a lot of people were underwhelmed by yesterday's rally. I hesitate to make a call on direction, but I don't think yesterday's rally has legs.
 
nice follow through rally, closing near intraday lows....


up 146 to down 46

oil near 110, dollar at new lows and you think the rally yesterday was the beginning of something new for this bear market.


Sell the rallies....
 
may be due to some bottom-fishing amongst the prior rally's beaten down leaders.

Still believers out there that we're going back up and enuf pain has been felt already.

I haven't heard much screaming yet, except from the shorts that get washed by the tsunami that is the Fed.

pS
 
Quote from HolyGrail:

Well the bullish percent indicator managed to go up today from 23.97 to 25.18.
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As a confirmation to your bp indicator, it appears that the bullish percent on the NYSE, Nasdaq, S&P 500, and S&P 100 were all up for the day as well.

Maverick
 
Quote from stock_trad3r:

I though the fed minutes were this week. They are next week actually. Nevermind the dow isn't going tp be up 800 points.
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LMFAO.... nice cop out. BTW it's the FOMC meeting not minutes. If you got rid of your ego you might just make some money
 
Quote from MAVERICK007:

As a confirmation to your bp indicator, it appears that the bullish percent on the NYSE, Nasdaq, S&P 500, and S&P 100 were all up for the day as well.

Maverick
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Now we have to see if we can get up to 30%. It sure would make me feel better that we have at least temporarily bottomed.
 
Quote from S2007S:

Increased some shorts and inverse funds, still holding some long positions however.


Dow back to 12k.
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back below 12k and headed for new lows.


S&P headed for 1240....
 
Quote from S2007S:

Increased some shorts and inverse funds, still holding some long positions however.


Dow back to 12k.
More...


:D :D :D


worked out well increasing my shorts and inverse funds.


DOW is now down 250 points from its 400+ rally...

and about 90% of the people here thought the rally would last....

:p
 
Quote from S2007S:

:D :D :D


worked out well increasing my shorts and inverse funds.


DOW is now down 250 points from its 400+ rally...

and about 90% of the people here thought the rally would last....

:p
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A small piece of advice. Never gloat until you have at least been proven correct. That would mean we go below the low before the rally.
 
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