ES Journal Archive (2009 - 2010)

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Quote from ammo:

kind of obvious, but we still have the mushroom effect of the auto industry fallout
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those effects will be played out in the media in the coming quarters when the sp500 is at markedly lower levels....
 
i think everyone is revved up for a big fall and the market isnt showing that in vol or thrust,we may hold today at the 881-2 line,the same way it felt on the 5/17 supp line test, i sold 82 and didnt cover on 75, i will close my position at 881.75, assuming we get back down there
 
Quote from paul_alan:

long again here at 884
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closing that one here at 89 for a quick 5 points profit.
Still holding the other one and will add long again if it heads back down.
 
Quote from kinggyppo:

Market is making sure all those banks that need to float stock can do it at higher prices. dow 36,000 right spectre?:p
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The devaluation of USD can pop the stocks with international exposure to certain degree.

BUT, to enable the banks to run up to 2 to 3 times higher from here, it will be a very difficult (I'll say impossible) task because the P/E valuation would put a cap to the run up created purely by devaluation of currency. i.e. B.S. rally =)
 
Last crash of NDX provided a clue of the condition needed to stop such B.S. rally - when the hope is met with reality.

Using the internet dotbomb as example, when those companies started to finally produce earnings, but staying at very low level (almost none), making P/E finally showing a number instead of N/A, then, long term funds are FORCED to unload those stocks as they cannot hold something at P/E > 100 over 2 consecutive quarters.

Simple as that.
 
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