ES Journal Archive (2011)

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This is not 1998 when the market was booming the dollar was rising home prices whwer rising employment was good.

The economic back drop is pitiful and everyone knows it yet stock are parting like it's 1999, all because of the artificial pump priming buy the central banks, just another fake rally built on nothing but hot air, has the nation not learned anything.

Apparently not, hey what's on Jersey shore tonight, that snookie is a orange hottie.
 
Quote from Rickshaw Man:

The SP 500 on a weekly basis has not been this overbought since 2004, which after it's extreme overbought state in went into a sideways pattern for well over a year. I highly doubt congress will allow the central banks to continue driving this nation into debt in order to artificially prop up stocks.

I feel the central bank will now use the market to hold congress and that nation hostage.
More...
http://www.federalreserve.gov/newsevents/press/bcreg/20110209a.htm
 
I am at the point now where this rally is now almost absurd. I have a strong feeling one morning longs are going to wake up and see 1/3 of there profits wiped out, you know how these down drafts happen when new 52 week highs are made on lighter and lighter volume. Caution is the word of the month.

Just sleep with one eye open from now on.
 
Quote from Rickshaw Man:

I am at the point now where this rally is now almost absurd. I have a strong feeling one morning longs are going to wake up and see 1/3 of there profits wiped out, you know how these down drafts happen when new 52 week highs are made on lighter and lighter volume. Caution is the word of the month.

Just sleep with one eye open from now on.
More...

That`s why I sleep tight at night as a day trader :)

What you are saying will probably happen sooner or later, but for the time being this market just keeps going.

People have been trying to pick a top for a long time now. Better to wait for confirmation of a top before start shorting.

My humble opinion that is :)
 
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