Fall you turd.

[matgallis]

i hope not

 

[Petsamo]

Quote from athlonmank8:

It looks like Europe might bail out Greece Monday.

Isn't that last month's news? and the reason why we had 10 straight up days? If the official news comes out Monday, are we gonna have another 10 straight up days, or is it gonna be a sell-the-news event?

 

[HuggieBear]

So this is the group that is planning to power the market on its next up-leg it looks like...

 

[S2007S]

Quote from Petsamo:

Isn't that last month's news? and the reason why we had 10 straight up days? If the official news comes out Monday, are we gonna have another 10 straight up days, or is it gonna be a sell-the-news event?

The whole greece thing is played out, everyone knows whats going on. The only news people are paying attention to is the fed meeting on Tuesday, I think Monday will be a very quiet day followed by a volatile Tuesday before and after the fed meeting, nothing new of course will be said. Everyone knows they aren't moving rates higher until they see at least 1 to 2 quarters of job growth. Also on the news front is news about the health care bill which I think will not be going anywhere anytime soon and the financial reform news due out most likely this week or next.

 

[hayman]

We went positive on NYSE Bullish % Index about a week ago, to boot. Looks like we are still climbing from here, despite all of the ominous signs out there. To me, this just means that we are going to fall harder, when the reversal comes.

 

[athlonmank8]

Quote from Petsamo:

Isn't that last month's news? and the reason why we had 10 straight up days? If the official news comes out Monday, are we gonna have another 10 straight up days, or is it gonna be a sell-the-news event?

news is false. Germany doesn't know anything about it. Doesn't look like it's gonna happen Monday anymore.

 

[athlonmank8]

Quote from HuggieBear:

So this is the group that is planning to power the market on its next up-leg it looks like...

What group lol?

 

[Bakinec]

There will either be a correction, or a gap up and rise.


I think. ))

 

[matgallis]

It looks like we will breach new highs this week/next week. The EUR has been heavily oversold and is forming a nice little cup on the weekly charts. It will be hard to stay short when the market is down in real terms, but up in nominal figures. GLTA

 

[NoDoji]

Quote from The Big D:

That's exactly what I'm talking about. How precisely do you intend to make money shorting a rising market and long an inflationary currency?

Maybe shorts work different where you're from

If you're a counter-trend trader with a short bias against a rising market, you watch for conditions to become overbought, price to pull significantly far from the rising 20-bar moving average and then watch how price reacts to previous resistance. The market's been overbought for a while now but as long as each day ends green there's no strong counter-trend signal yet, unless you want to start building into a position early. This can be a solid strategy if you have a max size and stop loss planned in advance.

ES hit 1159 in pre-market Friday and sold off that level so fast you could hardly see it. I'm assuming that means there were a heck of a lot of sell orders at that level. A counter-trend trader could interpret that as an entry signal to the short side, especially considering the overbought condition, 11 higher closes in a row, and price pulled almost as far from the 20-bar moving average as it's ever been over the past year.

The way short-biased counter-trend traders make money is by taking advantage of the fact that all trends have pullbacks and price on average tends to fall twice as fast as it rises. In the 11/3/09 - 2/5/10 time frame, it took SPY 2 1/2 months to climb over 10 points, then took just 17 days to fall back to the 11/3 price level.

There are many ways to make money in the markets as long you manage your risk.