its called counter-trend trading, works very well for some people
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No rate cut tomorrow, look out below.
- Thread starter detective
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its called counter-trend trading, works very well for some people
The day before short selling was outlawed, I saw a panic reading at the highest levels ever recorded. The fact that there is so much leverage out there makes it more like the ledge of a cliff at this point. We are seeing off the chart panic readings, but the Equities indices have yet to reflect that. There has been a major propping up here. I think we need to see some capitulation signs in the indices before we can call a bottom.
I'll bet if dow hits 9700, and $spx tests 1000, we will see real barfing capitulation.
I'll bet if dow hits 9700, and $spx tests 1000, we will see real barfing capitulation.
The bid has simply disappeared from this market as the guys on the sidelines are awaiting a new psychologically important price level like Dow 10000 and SnP 1150 before they commit capital and throw in an intraday rate cut and we can bounce 15% over the next few weeks.
In 2001 we bounced 17% before we rolled over again so I think any bounce will be under 20% as that would be a new bull market and that ain't happening until RE or unemployment starts to bottom.
In 2001 we bounced 17% before we rolled over again so I think any bounce will be under 20% as that would be a new bull market and that ain't happening until RE or unemployment starts to bottom.
A very wise Bird, one in a cage told me something very interesting.
Rally into the election with an OBAMA victory. Of course the Bird and I made a wager on OBAMA.
However, the market is, well, manipulated and It would not surprise me to see a mother of all Rallies into the Nov Elections.
Of course, my gut is telling me that we are going into a long deep and very painful recession for most people.
Who knows.
My pass port is ready if OBAMA wins. COSTA RICA here I come!.
Rally into the election with an OBAMA victory. Of course the Bird and I made a wager on OBAMA.
However, the market is, well, manipulated and It would not surprise me to see a mother of all Rallies into the Nov Elections.
Of course, my gut is telling me that we are going into a long deep and very painful recession for most people.
Who knows.
My pass port is ready if OBAMA wins. COSTA RICA here I come!.