I Have Not Been Able To Exclude The Possibility Of BLACK MONDAY 04/26

[charts]

Quote from pspr:

What comes to mind is a quote I heard somewhere,

"I'd Rather Be Lucky Than Good"

Lefty Gomez, ...

 

[charts]

Quote from shortie:

yes, the market has done a great job of conditioning people: "buy the dip", "eod rally", etc.

Great call ! ...

 

[shortie]

Quote from charts:

Great call ! ...

"even a one-eyed whore can score some nuts once in a while"

Rennick Out

 

[hayman]

Quote from Ivanovich:

LOL! Yes, I did. I bought the bounce, and then was stopped out. A loss, but not a large one. And it certainly doesn't cancel out all the times where buying the dip worked.

I do find it somewhat odd that GS was up and the whole market was down, despite the congressional grilling.

I thought the same exact thing. We're watching a semi-blood bath in the market (particularly in the last 1/2 hour), and I've got Bloom berg TV on, watch the GS brass scrambling all over the place, and GS ends up on the day ? WTF ?

 

[Petsamo]

Gap up and a rally Wednesday, anyone?

 

[S2007S]

Funny to see cnbc running news until almost midnight tonight. They are trying to calm everyone as if nothing is wrong.

 

[Ivanovich]

Probably.

 

[Lojanica]

So the crack in the wall is showing. Nice air drop today which included everything. All asset classes involved. Is it Mayday. I'd say yeah. That is to say buyers are gonna be scarce and I think the sell signal is in with a head and shoulders formation in the making. Selling the pops is gonna be the mantra for awhile with some wicked up and downdrafts. Good to be a daytrader now.

 

[Ivanovich]

Quote from Lojanica:

So the crack in the wall is showing. Nice air drop today which included everything. All asset classes involved. Is it Mayday. I'd say yeah. That is to say buyers are gonna be scarce and I think the sell signal is in with a head and shoulders formation in the making. Selling the pops is gonna be the mantra for awhile with some wicked up and downdrafts. Good to be a daytrader now.

I disagree. One minor correction (in the scope of the run up since last March or even the beginning of this year) is an excellent buy opportunity. I bought the close last night and will hold for a rebound today - but if things look like they're going to turn south, I'll cut my loss right away. Smaller than usual positions, tight stops. That's the mantra.

Especially if Banana Ben and crew release a "no change" statement like they probably will.

 

[S2007S]

These markets have barely witnessed more than a 1 day correction. Today will be interesting however with the fed meeting in place today its feeling like a guaranteed up day, going to volatile.