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How Do We Nail the Bottom?
- Thread starter netedge
- Start date
Quote from stock_trad3r:
not at all
Looks like the futures are surging
Dow 8,620.00 63.00 0.74
S&P 500 908.10 5.30 0.59
NASDAQ 1,249.50 1.50 0.12
Spooz up 5.3 points and dow up 63..and its only 6:00 PM
This is the so called 'futures creep' that leads to 4-6% rallies the next day after sharp selloffs
Good read:
http://www.thestreet.com/story/10443810/2/market-x-rays-all-the-symptoms-of-nearing-a-bottom.html
The pros are loading up
market surging..
dow gain 6% today? Possibly
Nothing changed economically between now and last year. nothing. The fundamentals of the US economy are as strong as ever even with the mental recession and fake financial crisis.
The big funds and money guys are loading up. They see value in tech and commodities. They know it is time 2 buy and do so.
Quote from stock_trad3r:
market surging..
Dam ..I got faded. Maybe there is money to be made fading my calls since this market has done nothing but go down (a long with all the stocks I recommended). It seems the market can't hold on to any gains. To be honest, the dow should be at 13,000 at least right now. 8500 is fucking absurd. It makes no sense at all. That is a decline of 40% in a little over a year on a financial crisis I have yet to even observe or expierience. If there are people jumping out of windows, soup kitchen lines, and empty highways then yea that would be signs of a serious problem.
Quote from stock_trad3r:
Dam ..I got faded. Maybe there is money to be made fading my calls since this market has done nothing but go down (a long with all the stocks I recommended). It seems the market can't hold on to any gains. To be honest, the dow should be at 13,000 at least right now. 8500 is fucking absurd. It makes no sense at all. That is a decline of 40% in a little over a year on a financial crisis I have yet to even observe or expierience. If there are people jumping out of windows, soup kitchen lines, and empty highways then yea that would be signs of a serious problem.
lmao. this in line with what all the ET sages have predicted: we will reach a bottom only after stock_trad3r loses all hope.
He's getting closer. He did basically admit that he has no money invested in the market by say the credit crisis has not affected him. Stock, do you even have a job? Ask your parents if the economy has changed over the last year, they can tell you it has. Why should the dow be at 13k? If you hadn't noticed earnings have been hammered pretty good here. Please tell all on et why you are right and everyone else is wrong.
Quote from stock_trad3r:
"It makes no sense at all"...
There is your problem. Markets do not trade on what makes sense to you. Clear your head; rid yourself of all bias, and look at a monthly chart of the S&P 500 or Dow. Now ask yourself if this looks like the kind of chart you want to buy. Forget trying to pick a bottom, just be objective.
Quote from netedge:
Anybody notice the VIX surge to 96.40:eek: today?? Absolutely astounding!
I have a well-informed member of my trading group that predicted VIX 100 but I thought it was absurd at the time. Guess I better see what his other predictions were....
The high quote I have at 2:15 ET is 77.91.
You can see the downside penetration of the symetrical triangle that has been forming in the SPX since the low on the 10th. If we hold below the triangle this evening then it can be assumed we resolved to the downside and are heading for the next major support - a retest of the 839 low on the 10th.
Chart attached
Chart attached