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Rally, and rest of week
- Thread starter legend4life
- Start date
This is a very exciting market and at the same time a dangerous one especially if you don't keep your downside risk in check.... this is true regardless whether you are long or short. So far being bearish and selling these monster rallies has worked well. I think it should still work.
On the other hand the SPX 825 level held on a retest yesterday and it is possible that this rally has some serious pent-up emotions left in it that it can continue for more than a few days. Also as we are getting closer to the election, it will be an excuse to rally -- regardless who wins.
Eventhough I am bearish, I will try to keep open the possibility of going long whenever I have a well defined risk level and try my best not to stand in front of a runaway train.
Good trading.
On the other hand the SPX 825 level held on a retest yesterday and it is possible that this rally has some serious pent-up emotions left in it that it can continue for more than a few days. Also as we are getting closer to the election, it will be an excuse to rally -- regardless who wins.
Eventhough I am bearish, I will try to keep open the possibility of going long whenever I have a well defined risk level and try my best not to stand in front of a runaway train.
Good trading.
Quote from Fractals 'R Us:
Heck yes, DJIA put in a triple bottom and up about 900 pts today. Economists taken by surprise for the zillionth time, fundamentals still good, the credit freeze is thawing very rapidly, home sales are even up... why are people pissed at us just because things are going great again?
maybe they are upset that they missed the bottom.
Quote from S2007S:
THERE WILL BE NO NEW HIGHS ON APRIL 2009, SORRY TO TELL YOU.
This is a long term bear market that will be here for years.
I totally agree. Mainstreet, Guvmnts, Coporations have stuffed themselves with debt and living high on the hog on credit. Now it's time to pay some of it back and slow spending for a while. That's what a recession is. Nothing to fear, just a flushing out of the system.
So you're telling the market what's going to happen...instead of the other way around?
New all-time highs next April are pretty much impossible...I agree. That's like an 80%+ gain in 6 months. But as to the general direction of the market from here, I'd suggest relying on the market and not your predictions.
New all-time highs next April are pretty much impossible...I agree. That's like an 80%+ gain in 6 months. But as to the general direction of the market from here, I'd suggest relying on the market and not your predictions.
Quote from S2007S:
THERE WILL BE NO NEW HIGHS ON APRIL 2009, SORRY TO TELL YOU.
This is a long term bear market that will be here for years.
This is may take on the rally today. The gov just gave the bank 250bill today. New money to play with. Do you remember what happened last time when the gov gave the backs 200bill? They rank the markets up on a huge rally then the next day they slammed it back down.
Just so you all know, I went short at close on this rally today so that is my position.
Good luck to everyone no matter what side you are playing.
Just so you all know, I went short at close on this rally today so that is my position.
Good luck to everyone no matter what side you are playing.
Yes, going higher. I agree, fundamentals of the US economy haven't changed between now and June 2007.
Quote from stock_trad3r:
What a monster rally. Goog surged 40 points. Just amazing. 10,000 doesn't seem that far off this week. This is just the start though. I've been here even on october 10th when the dow was at 8000. and yesterday. When I say the Fundamentals of the US economy haven't changed between now and June 2007 I am right.
Don't worry, it's going to 16,000 by December.
We're the elite here, both you and me. The rest are just dumb traders not recognizing the new bull market.
Buy POT, AAPL, GOOG, MOS, V, and last but not least: GS.
We're the elite here, both you and me. The rest are just dumb traders not recognizing the new bull market.
Buy POT, AAPL, GOOG, MOS, V, and last but not least: GS.
Quote from stock_trad3r:
No, but 10,000 does seem very likely. I only wish I had more money to invest. Maybe you should ask that same question to those predicting dow 7000 or whatever.
wow this is nuts..keeps surging..8700 and no looking back. The buying is very orderly. A small dip, more buying, dip, buy, ect. The result is a nearly 45 degree line of steady buying on huge volume.