Market refuses to go down

BSAM · Nov 9, 2009

Quote from Landis82:

.....It's ALL about PRICE folks.
Doesn't anyone TRADE technically here?

Wash, rinse, repeat.

1st Munchkin: (Pointing finger) "Follow the yellow brick road."

2nd Munchkin: (Both arms stretched out with palms upward) "Follow the yellow brick road."

3rd Munchkin: (In louder voice with hands forming megaphone around mouth.) "Follow the yellow brick road."

makloda · Nov 9, 2009

I don't care if something is a bubble as long as I can ride it up and down. Bubble spotting is a futile and painful exercise in trading, that's why it is non-sense. Trust me, I will be completely unemotional folding my cards when this pig blows up and heads south and I will go all out short.

The problem is.. Was this a bubble at 850? At 950? Or at 1000? Or at 1100? Maybe it's a bubble at 1200? I have no idea when it implodes so I am still long everything in sight until the market decides it's game over.

S2007S · Nov 9, 2009

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Pretty funny

1:40 that its going to be really hard to be "DERAILED" going into the end of 2009.

2:30 he mentions fed has spoken, the dollar has spoken its down, thats usually positive.

3:48 mentions if commercial real estate hasn't crashed yet its NOT going to crash.

5:19 mentions so many positives, so many bears, no new data points on the horizon that CANNOT knock this market off course.

10:47 mentions buying BAC, GS, WFC AAPL and GOOG.

hmmmmmm

so I take it that no matter what the news is, good, bad, okay or whatever, as long as the dollar carry trade exists there are no worries in this market, as cramer says there is NOTHING that can derail this market moving ahead.

hmmmmmmmm

Gcapman · Nov 9, 2009

The upward thrust was incredibly strong! Let's see if there is any follow thru

Petsamo · Nov 11, 2009

A double top or a lower high is blown. So, it's off to S&P 1200. It'll be nice if we make it quick.

bridenour · Nov 11, 2009

I am expecting 1150 in a heartbeat. And I am going to profit wildly if that happens.

All signs point to yes.

gucci · Nov 11, 2009

Amazing play indeed. Too bad it's gonna end up like sharks eating the sharks.

piggie2000 · Nov 11, 2009

an amazing time. i'd say 99% of people are long and positioned for 1150-1200 and for the mkt to just roll over and let all win is amazing.

makloda · Nov 11, 2009

Every taxi driver and house wife was positioned long in early 1999. Still took the markets 12 months to fall apart.

piggie2000 · Nov 11, 2009

yes i agree. but when a mere 5% of the world was short in march the mkt turned on a dime and skied. there lies the story of why outside a trade why anyone would ever stay short for long. its a losers game period. ones timing could have been horrible buying into the crash this year and if patient you still made 100% easy on most stocks