Reiterate : buy the dip

why quote Stcktrdr?:

Take the wax out of your ears.

This 'trader' went from being fully vested the week ending 20-Jul-2007 to <20% 27-Jul-2007.

I have since been in cash AND YES (see C2) have profited from QQQ WOTM spread trade initiated 24-Jul-2007 (closed yesterday) for 9% gain in less than 2 weeks.

Ga aka PayS
 
Here is my opionion. We need to retest the lows. The dead cat bounce in the financials was just a bit overdone. If the mkt holds at fridays lows (1425ish) we may have a bounce back to get the last of the joe sixpacks sucked in. Then the fun starts. Sept. and Oct. are going to be memorable. Traders will make a killing. Others well....not so much.
 
i have a negative bias as well, all hopes of a fed cut, not realistic, the buzz again today, part of the push to the upside? should be going down again this week, trend is down still.. imo
 
very nce close today

EVERYONE knoew the fed wasn't gonna cut and as a result the market rallied anyay cause it's dow 14000 around the corner
 
The financials fell about 20 trading days in a row, and two days of buying is 'overdone' ??? How about the market is searching for fair value?

Bears had their chance to win today, and couldn't run with it. The Moody's BSC upgrade today was a big deal.

Hell today we had Bill Gross say he's bottom picking debt saying it looks attractive.

The earnings coming out of this market are nothing short of amazing, and bears are running out of good news flow ammo.

We've had several 'retests' already, so I think its fine to say this market is ready to move up.
 
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