It first glance it looked like a strong day. Then I noticed that the declining issues exceed the advancing issues for the NYSE and Nasdaq.
Dubious rally today.
- Thread starter TheDudeofLife
- Start date
Yeah, I wouldn't short the Dow, but I've been buying SPY puts all day...there is something really dubious and not too strong. Merck helped by being up 7%.
I think we'll see lower prices because the rest of the year is looking rather weak due to housing and it seems market participants are noticing that. Buying was weak and moves up looked like program buying.
I think the markets are manipulated, the futures are the only reason the market is making new highs.
I'm long and just going with the trend, but their is not doubt it's a rigged game, just play along and make $$$$.
Why did NQ not participate in the rally today? because the ones who make the market knew something. Well TXN now explains everything.
Let me tell u something. Bears had bulls by balls after this past Friday. BUT NO LONGER!!!!!
Why I say that??
Because market today up over 100 gave bears opportunity to sell off market later and close it in negative territory which would show everyone that BEARS really do have BULLS by BALLS.
But they couldn't even get the market anywhere close to turning negative..
Friday was nothing but a blimp and over reaction to GOOG!
BULLS OWN MARKET !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The Advance/Declines are ugly and have been more so recently. Why is that skeptical? That's called reality. Does that bother you?
Bulls are weak, to bad the bears are not taking advantage of it. Every up day is a gap open due the the futures jam up overnight.
It's not like the cash market opens were it left off the day before, then powers higher all day long on strong market breadth.
As a matter of fact is just the opposite, it gaps open then trades sideways or lower on declining market breadth.
Quote from SiSePuede!:
The Advance/Declines are ugly and have been more so recently. Why is that skeptical? That's called reality. Does that bother you?
I'm short but the worry for bears are twofold. One, if the indices are advancing while an a/d divergence is occurring then what happens if the shit rises like cream? Secondly negative sentiment is VERY worrisome to me as a short. New highs should be filled with euphoria not doubting Thomas's.
I still think we're going to break but it'll be like pulling teeth.
Listening, watching, hearing, seeing, etc. makes me think that funds and managers are hoping that something pushes the markets higher through earnings. I was trying to ride the tide of enthusiasm but since earnings have rolled in I don't buy the hype. I think this is a bad earnings run so far and could get worse. AAPL might be a bit of a saver, but there is ugly comments in the waters about growth going forward and I think after, if not before earnings season is over we're going to see a sell off.
Before earnings started rolling in there was chatter about the S&P hitting 1630 from some fund managers and now there's little in the way of such optimism.
I have my money we see lower levels and soon. Good luck, I only trade with small chunks of money and invest with larger ones in small cap growth stuff so this is more speculative for me and not really something that affects me either way. Something to do while I wait for my small caps to grow.
