Market seems to rally in the last hour

H

hajimow

Market has cooled down from its selling mood. It seems that we might see a rally on key stocks at the close.
The reasons are:
Most probably Asia and Europe will rally tonight and will give more leg to US to rally on Wednesday. Call it a sucker rally or wahtever but it will be a rally. Lots of call volume. Odds are in favor of covering shorts at least temporarily. I believe this will happen at around 2 PM.
 
Quote from MrDODGE:

Only reason we didn't crash today was because of the rate cut.
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I agree and if it was only 25 point, it would agitate the market more and we would have crashed deeper. 75 poin did the job.
 
Are you even vaguely familiar with what the word "close" means?

We've only been open for 1 1/2 hrs now, still lots of trading to go.

Quote from hajimow:

Interesting thing is that BBY, CC, HD, LOW, IYR are all up. AAPL seems to close positive today.
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Quote from The Swordsman:

Are you even vaguely familiar with what the word "close" means?

We've only been open for 1 1/2 hrs now, still lots of trading to go.
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Yes I think I know and that I call it the art of meaningful prediction. I don't predict yesterday. I don't predict next year. My time frame is a month and if I can not at least have an educated guess or prediction for the close of today, I should not trade.
 
Quote from hajimow:

Interesting thing is that BBY, CC, HD, LOW, IYR are all up. AAPL seems to close positive today.
More...

Hmm... what will folks spend their stimulus package on?

Ipods.. flatscreen tv's... home improvement stuff...

thar ya go.
 
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