Melt Up

Apex Capital · Jul 28, 2005

The 10 day MA on the SPX has held all of the intra-day lows for the past 7-8 days . . . The last two days have "lifted-off" out of a small consolidation. Tomorrow's action will be key. Need to see continuation.
1253 level is the next target on SPX.

invaliduser · Jul 28, 2005

AMZN up 9 points in 2 days , what was it that Greenie called that?

Apex Capital · Jul 28, 2005

Greenie was saying overexuberant back in 1996.

Kicking · Jul 28, 2005

Quote from Rickshaw Man:

This is a farewell send off for Greenspan

I have thought about this too for a few weeks now, sort of a Y2K effect for Greenscam. Also remember years ending in 5 have been big up years for a century

Anyway don't try to understand. I am thinking as traders we should relish raging bull markets not wish their demise but that's what we usually do. It's a paradox since bull markets present a lot more money making opportunities. In a mania market get your clueless wife to buy some momo stocks she might make more money than you while the market goes ballistic.

EqtTrdr · Jul 28, 2005

Quote from invaliduser:

AMZN up 9 points in 2 days , what was it that Greenie called that?

matter of fact..... he did

http://www.newyorkfed.org/markets/omo/dmm/temp.cfm

and he continues to...

all aboard $$

mogul · Jul 28, 2005

Quote from Samson77:

Ha !!!!!

That will teach me to shut up!

Took and engulging candle short and just got stopped out ... LOL

This should be a classic low volume retest on the ER and it's got an 80% probability of success, but obviously not in a melt up.

Can you say I'm a fool

Are you talking about this ER?

mhashe · Jul 28, 2005

Quote from Samson77:

Sometimes the market truly amazes me even after being in this business for 20 years.

$60 Oil - has to cost each household an extra $800 per year.

Interest rates - continue to hike.

Yuan floated - that's going to cost the consumer an extra 30% for everything they buy at wal-mart etc...

All I can say is sometimes it really feels like the markets are being manipulated even though I know they are not.

The ONLY thing that makes any sense to me is that money is flowing from overvalued realestate into the markets.

Sometimes all I can say is "I just don't get it" !!!!

Just so you know I did take 3 longs and one short today though.

It's difficult to come to terms with the fact that the market can stay irrational longer than we can stay rational. And who says the markets are'nt manipulated?

Samson77 · Jul 28, 2005

Quote from mogul:

Are you talking about this ER?

http://charts.dacharts.com/2005-07-28/Samfox07.png

:eek:

vulture · Jul 28, 2005

I'm waiting for Iceman to chime in...lol...He has some of the all time best rants...

The manipulation issue is like debating religion or politics. Either you believe in it or you dont. I have seen some pretty nasty arguments when both sides go at it.

Mike805 · Jul 28, 2005

Quote from Kicking:

It's a paradox since bull markets present a lot more money making opportunities. In a mania market get your clueless wife to buy some momo stocks she might make more money than you while the market goes ballistic.

You ever hear the saying "While it took 100 years to build something, it can be destroyed in less than one day".

Well, I sense a coming fall but 90% of my trades in the last two weeks have been longs... go figure.

I really don't care which way the market goes but I would LIKE to see some strong downmoves. I personally trade with better success on the short side.

Mike

Melt Up

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