Usually when the market behaves like this, meaning extreme moves in both directions, means that its going to find a definite direction very soon, many are thinking up, but with a housing industry that hasnt seen a bottom and liquidity drying up quickly, I think the next direction is down, I think the markets could easily erase their gains for 2007 by end of this quarter. However Im sure the markets end the year on an up note, gaining something along the line of 5-8%.
Do days like this happen very often?
- Thread starter Cruzan
- Start date
Have you noticed the big down days, 500 advancers/2500 declines.
Todays breadth for such a large point gain is very suspect. doesn't mean it wont go up another 200 tomorrow.
After
Phantom rally just came out of nowhere
Obviously not all stocks in all sectors will participate in even the biggest of rallies. IN 2000 material stocks were left out.
agreed. it seems all of these markets move at the whim of fund games more than anything. The 'bull market' ascent we experienced felt the same way.
When retail buys, they buy everything. Look to the Chinese market for that. Thats a *real* bull. Would be nice to have one here.
But for the last yr, this market is nothing but one sector rotation after another. Index buyers and genies do the best.
I just could not agree more. In 40 years of fooling around with the stock market i don't recall having ever seen the market go up so strongly on such mediocre (at best) internals. What the hell is going on here? :eek:
Possibly the lower Yen and oil prices had something to do with it, but that does not explain the internals being so out of sync. Perhaps it is the reverse ETFs?
Should the Fed lower the discount rate tomorrow, which i think is next to impossible, i'm going to be highly suspicous. It trust Ben but i don't trust Paulson anymore. Not after he moved to Treasury a few months before the midterm election and suddenly the weighting of gas futures was "adjusted" in the GSCI, causing, of course, futures to be sold and the price of gasoline to plummet. What convenient timing! And then, of course, as if by magic, gas prices resumed their climb after the midterm election.