huge stock market rally is over for now!

[noddyboy]

Quote from Petsamo:

From FreeTradingVideos.com: They're saying to look out for resistance at NASDAQ 1780 - 1790 area. If the markets do not penetrate to the upside, this will form a double top, and the markets should come down. Also, look at the financials; they should lead the way to the upside or downside. The NASDAQ is currently 1774, so we're not far from there.

I went long on Friday and seeing the EOD spike and now the gap up after hours, give me one reason why I shouldn't take profits and buy back at unchanged?

 

[Ivanovich]

Everything is going wild (except the USD) right now. Futures up rather largely, Euro rocketing, gold and silver through the roof, oil, AUD, it's starting to look like a frenzy!

 

[Now is Now]

I have a feeling I will be covering my shorts XLY and PBR tommorrow

 

[S2007S]

GM bankruptcy is the biggest green shoot this week, that's unless unemployment figures come in above 10%.

 

[Eko_Trader]

Quote from S2007S:

GM bankruptcy is the biggest green shoot this week, that's unless unemployment figures come in above 10%.

You think 10% will be enough of a green shoot?

 

[hairdresser]

Yep, new Highs my friend, new highs.

 

[S2007S]

Quote from Eko_Trader:

You think 10% will be enough of a green shoot?

That is a great question, I think 10.5% unemployment would be more of a green shoot of course but I dont expect that much of an unemployment number this month, maybe next month that 10.5% will bring more bullish movement to the markets but now 10% is enough to sustain a move on the DOW to 9000 and beyond.

 

[Ivanovich]

It's all bullish. Buy everything you can!

 

[Eko_Trader]

Quote from S2007S:

That is a great question, I think 10.5% unemployment would be more of a green shoot of course but I dont expect that much of an unemployment number this month, maybe next month that 10.5% will bring more bullish movement to the markets but now 10% is enough to sustain a move on the DOW to 9000 and beyond.

Great Analysis, Buddy. Green shoots all over....yummy

 

[volente_00]

Quote from B. Rowshan:

S&P @ 928 3pm

The great b. rowshan is back and bigger then ever!
Huge rally is over for now.
Is b. rowshan ever right?

BEST DAMN FADE ON ET