2700-2800 in the Nasdaq is the real resistance. If we break through that, the Nasdaq may actually have a real chance at an all-time high and finally join the Dow and S&P into new ground as they have after after the tech bubble. Nasdaq hasn't yet. I've been waiting for this and we are close.
I Have Not Been Able To Exclude The Possibility Of BLACK MONDAY 04/26
- Thread starter shortie
- Start date
Shortie, right now there is no reason for the market to sell off. There have been no economic news surprises and as long as earnings continue to beat, continuing job losses are irrelevant. Wall Street runs on corporate earnings growth. Job losses simply mean companies are cutting costs and socking away cash to bolster their balance sheets until there's evidence of a sustainable economic recovery, at which point they'll start hiring again.
Retailers are posting solid earnings and upside guidance, so the 70% of our GDP dependent on consumption is safe for now.
Money is free. The investment banks can borrow money for free and invest in...equities! Where do you think all their huge profits have been coming from? Where else can you invest and get such dependable high returns right now? Certainly not from borrowing money at 0% interest and lending to consumers and small businesses to help grow the economy. Hahahahahaha!
That being said, I made more money this week shorting ES on 3 different days than I made in any full week of trading this year.
I agree with Hayman. When so much has been swept under the rug that it becomes unsafe to walk on the rug, the correction will be much faster than the run up. The run up before the Jan/Feb pullback took nearly 4 months; it took just a little over 2 weeks to completely reverse those gains.
Retailers are posting solid earnings and upside guidance, so the 70% of our GDP dependent on consumption is safe for now.
Money is free. The investment banks can borrow money for free and invest in...equities! Where do you think all their huge profits have been coming from? Where else can you invest and get such dependable high returns right now? Certainly not from borrowing money at 0% interest and lending to consumers and small businesses to help grow the economy. Hahahahahaha!
That being said, I made more money this week shorting ES on 3 different days than I made in any full week of trading this year.
I agree with Hayman. When so much has been swept under the rug that it becomes unsafe to walk on the rug, the correction will be much faster than the run up. The run up before the Jan/Feb pullback took nearly 4 months; it took just a little over 2 weeks to completely reverse those gains.
one thing that worries me is that the market continues to respond favorably to the good earnings. this tell me that there is still some juice left to fuel the rally. a couple of weeks back i expected all the good earnings to be priced in and i turned out to be totally wrong.
about the "free money": we had them for >1 year and we had many bull runs followed by decent corrections. no reason why we can have a reasonable dump now with the market overextended.
Interesting! Full Moon is happen to be on that day! The skies are aligning for a major turning point maybe...
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2393449&cmd=show[s123237122]&disp=O