huge stock market rally is over for now!

Is the huge rally over for now?

  • yes, rowshan is usually right

    Votes: 110 34.2%

  • No! more upside ahead

    Votes: 113 35.1%

  • I don't know/I don't care/stop with your polls

    Votes: 106 32.9%
  • Total voters
    322
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Quote from Pa(b)st Prime:

Great call! I'm sooo pissed. I had measured resistance at 930 but even better resistance at 943. So I waited in vain for the pop further that didn't occur.
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I've said it a handful of times in the past month: We're going to see 1050 by Sept.


The market is pricing in GM's chap. 11. And for those unaware, and think that market cap of GM is anywhere close to their book value(read: not the stock book value, but the company's), I have some waterfront property in florida to sell you. Our latest estimates put GM's real value around 90 billion USD.
 
Quote from Pa(b)st Prime:

Great call! I'm sooo pissed. I had measured resistance at 930 but even better resistance at 943. So I waited in vain for the pop further that didn't occur.
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Don't give up too soon. We have to get through Friday first. Then perhaps a sucker pullback to trap bears followed by a push up to the 940-50 area. Or we might just go on up. Have no idea. Just going with the market. But it still seems probable we will test those Jan highs before long. After that, we can have that long-awaited-for correction of this bear market rally and i can sell more puts. :D

P.S. we still have wednesday and thursday. Who knows. We could even get to 943 by as early as Friday am! Look to see if those folks jacking the futures around jack them up tonight.
 
Quote from noddyboy:

I thought you were bearish. How about the vix?
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I am. I just think the market will continue to ignore any bad news and keep on chuggin' despite my belief, unfortunately.
 
Nifty Fifty seemed to rally the market towards end of day. Pretty negative close though actually. I think only Dow was positivie. Banks tried and failed. Everyone got all hopped up after the close about INTC. Apparrently a passing comment from CEO was made to CNBC reporter as he was walking by about Q2 "so far, so good!". Only problem is that 2/3 of the Q2 orders come in June. I'm short it at $15.75 after hours. Wish me luck! I don't see this turning around tech like they said it would. More TV hype than anything else.
 
Quote from Tide31:

Nifty Fifty seemed to rally the market towards end of day. Pretty negative close though actually. I think only Dow was positivie. Banks tried and failed. Everyone got all hopped up after the close about INTC. Apparrently a passing comment from CEO was made to CNBC reporter as he was walking by about Q2 "so far, so good!". Only problem is that 2/3 of the Q2 orders come in June. I'm short it at $15.75 after hours. Wish me luck! I don't see this turning around tech like they said it would. More TV hype than anything else.
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bad retail sales. market going down.
 
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