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monster rally coming!!
- Thread starter empee
- Start date
Yeah I think that high wave candle at support on Q's could be misread! This so far has been a range bound market for 10 trading days so far, and only upon injecting 300 billion into the markets di the the market stabalize. Why they did this, they know anything with liquidity will be sold, and if that means their favoritie winning stock, wether it's RIMM or AAPl, they'll dump it to satisfy margin calls or provide cash to keeping on keeping on.
A two day selloff is not much of a trend to reverse. I placed a few speculative longs on nice selloffs, that I hope to dump and go short again, but like a few here have said, shorting pops is the correct interpretation of this market so far. Or at most one to two days longs, max.
A two day selloff is not much of a trend to reverse. I placed a few speculative longs on nice selloffs, that I hope to dump and go short again, but like a few here have said, shorting pops is the correct interpretation of this market so far. Or at most one to two days longs, max.
Quote from empee:
I dont know where the market is going longer-term, but I see a monster rally setting up. Too much fear short-term. Im already long and buying more Monday AM for swings, to exit on a big up day.
Of course, we know either I'm going to be a genius or moron with current volatility.
I'm thinking we gap up big on Monday and never look back, that would be most likely scenario.
Lets see how it unfolds.
Yep I agree with you, now u need to get back to the party:
http://www.youtube.com/watch?v=1Mv0KsuyiSU
Quote from rosy2:
if you have next to nothing to lose then setting up for a rally is fine. but for realists, you should setup for a long downside decline. its a safe bet.
if you think the 4yr long rally has come to a halt then yes, otherwise this area is not a bad spot at all to go long..at least worth to take a shot:
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1565128>
Attachments
"With the fall of one leaf, fall is coming" japanese proverb.
Quote from Bitstream:
if you think the 4yr long rally has come to a halt then yes, otherwise this area is not a bad spot at all to go long..at least worth to take a shot:
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1565128>
Look at the volume bars at the right side of that chart. This "correction" just might be different than the rest.
Quote from empee:
"... I see a monster rally setting up. Too much fear short-term.
1. Disagree about the "fear"..... rather much complacency except for whiners like Cramer who are heavily leveraged in crappy debt instruments.... maybe they actually deserve to be taken to the wood shed?
2. Technically, market is set up for a bounce.. maybe back to the highs, maybe more.... negated if market closes and holds below lows of last week.
3. Best possible thing for the bulls...in addition to the technical setup, money pump by the Feds... not the obscure kind but rather the stated, "Don't worry, WE'RE PUMPIN'!" kind.
Quote from harkm:
Look at the volume bars at the right side of that chart. This "correction" just might be different than the rest.
yeah there are a few things bothering me and the increase in volume is one them.
i wonder also about IB doubling eminis margins requirements, and although there's plenty of bearishness around as usual, i gotta admit this time there's a smell of rotten flesh permeating the air.