How Do We Nail the Bottom?
- Thread starter netedge
- Start date
The market can easily surge 5-10% in a single day even on bad news, or for no reason at all. I expect a rally on Friday on unemploymwent data.
Just hang tight. Don't sell now. Even with Obama as prez things arent that bad.
Just hang tight. Don't sell now. Even with Obama as prez things arent that bad.
markets surging again. Still 1000 points from october 10th lows. The best way to make money is to buy and hold. Buy all the dips just like in 2005. All dips are to be bought. Never short.
Unless the era of reaganomics, deficit spending, consumerism, and consumer debt , and supply side comes to an end all recovereis will be v shapped. If such a transition occurs the dow could fall to 2000 and remain there for decades because the economy will simply fail to grow. Dividends will remain, but the market will flatline.
It's true the last 2 days were relatively violent down days. Shows there is still panic and caution in the markets.
Nonetheless we held at support from 10/15 and 10/16. Also, if today holds up through the finish we will have staved off the consecutive down days to 2 after 5 consecutive up days.
Meanwhile, here is the daily economic news we are advancing on today:
Obama will make economic mark before inauguration
U.S. stock futures off session highs after jobs report
Las Vegas Sands crumbles on bankruptcy fears
Unemployment rate leaps to 14-year high of 6.5%
U.S. stocks advance after two days of heavy losses
Not exactly the most rosey info we've ever seen in the markets. Yet the S&P is up 22 today at this moment on this horrible job loss news. There will come a time that the markets will no longer panic at the impending bad news such as what is happening today. Now will we continue to hold above S&P 900? That is the question for the moment.
how to nail the bottom:
1. put the nail on your chair.
2. Sit on the chair.
3. If you feel it inside, then you have nailed it. If not, repeat step 1-2, until you succeed.
1. put the nail on your chair.
2. Sit on the chair.
3. If you feel it inside, then you have nailed it. If not, repeat step 1-2, until you succeed.
Do you mean like this ...
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(Intolerable Cruelty - I'm gon nail yo ass)
Quote by Matthew McCall that sums up my view of this past week:
"The fact the market rallied on very poor economic numbers coupled with a strong last hour of trading is one reason to smile this weekend. The 4% loss over the week is no reason to frown, but we should be ready to act. Keep in mind that last week was the best the markets had experienced in 34 years with the S&P 500 rallying 14%. Giving back 4% the following week is not all that bad in my mind as long as we hold the lows of Thursday. The bottoming process is about to head into its fifth week and what I require is that the lows continue to be held and volume does not spike on down days. So far so good and I will keep you up to speed throughout the coming weeks."
Here's the rest of the information from his article if you'd like to see the research behind it:
http://www.dailymarkets.com/stocks/...loyment-rate-and-actions-of-the-stock-market/
"The fact the market rallied on very poor economic numbers coupled with a strong last hour of trading is one reason to smile this weekend. The 4% loss over the week is no reason to frown, but we should be ready to act. Keep in mind that last week was the best the markets had experienced in 34 years with the S&P 500 rallying 14%. Giving back 4% the following week is not all that bad in my mind as long as we hold the lows of Thursday. The bottoming process is about to head into its fifth week and what I require is that the lows continue to be held and volume does not spike on down days. So far so good and I will keep you up to speed throughout the coming weeks."
Here's the rest of the information from his article if you'd like to see the research behind it:
http://www.dailymarkets.com/stocks/...loyment-rate-and-actions-of-the-stock-market/