Fighting the unwinable fight.....?

cross market selling is likely.
japan and europe must be sellers of US stocks at this point. likewise, US is seller of european stocks.
it was childish to think the selling would go away after one day. at least, wishful thinking it was.

the good thing : markets don't go to zero. so we are much closer to a long term bottom now. Only if the economies go belly up will we see much worse. for now, there is no proof of an economic meltdown, only stock market. Do not rule out anything though, just because you don't like it.

Imagine the next steps and events will have dramatic impact on the markets for the short term : the first strikes, the first body bags, terrorists down, any (god forbid) terrorist attack anywhere in the world, etc..
be very, very careful, this is going to be a very tough market by the week.

neo
 
yesterday was only a panic short covering/profit taking. it certainly created a nice opportunity for the euros and japs to sell. once again it proves how childish the "patriotic rally" idea was. it's a global market folks. a true patriotic move would be to push the US market down, so the overseas people will sell euro/jap and buy US, thus pumping liquidity over here.
 
My biggest problem right now is clear-headed thinking. The charts themselves don't look that unusual when it comes to trends, pullbacks, etc. But I'm finding it real hard to concetrate on that while I have a knot in my stomach worrying about the safety of my children.

The TA is working. But larger time frames are always more inportant than shorter ones in figuring out the technicals. So you have to respect the power of macro-forces.

The book that has been coming to mind with a vengence for me is Tony Plummer's Psychology of Technical Analysis. His examination of the Fibonacci Shock Spiral is profound and very timely.
 
I suspect that many individuals are raising cash. What is often overlooked is that when the market is closed (like last week), you cannot sell and hence, cannot get your money. Some brokers even didn't allow you to withdraw Money market funds, since they actually are in a bond-backed.

Despite what the mutual fund guys say on TV it appears that we have a bit of selling ahead.
 
One way to look at the market is as a good, persistant bull market in reverse. I don't like the market because I hate trading stocks under $20 with my system and it's getting harder to find good stocks above $20 for me. There is definately an imbalance of consistent selling but as soon as we get 2 days up in a row we'll know we're back to at least the oscillating bear market.
 
Well.... I sure got the sh*t pounded out of me today. I guess I was playing a bit too cute and expecting that the rally would continue at least into the open. Wow. Today was a rough one. I guess, we will have to stop dropping at zero... Markets dont' go negative... do they?
I'm about flat on the week now, which really sux, cause I was having a good one. I guess tomorrow I'll probably take it easy, and come back to fight again monday, unless we really dive tomorrow in which case I'm loading up.
 
Well...... I got up to look at futs..... dow now off over 400..... It's an hour to open, and I have no ideas... Thank god I have no opens today.... I think we are getting to a point where owning stocks has become unfavorable, even unwanted. I know we are within a week of a good tradable bottom, but we could go 1500 pts lower in that time... What is everyone looking to buy?
 
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