S&P above 1410 would be a gift for shorts
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You short , and we will see you in Bankruptcy heaven.
Have you not suffered losses in the last week? Want to test your fate again this week? How wreckless are you?
Here is some analysis from Marketscope:
"There are several additional plusses that indicate that a rally into the spring is a good possibility. Foremost is the CTI which is now projected to remain positive into May 2008. The percentage of Bullish Investment Advisors (41.6%) is within a hair of dropping below 40% which is regarded as bullish. VIX hit 37.57 on 01/22/08 which bettered the most recent high posted on 08/06/07 (37.50) and was highest since October 2002. Also, the percentage of stocks above their respective 200-day moving averages (18.8%) is the lowest it has been since the bottom of the 2000-2003 bear market. Finally, the amount of short interest at both the NYSE and NASDAQ are at near record levels which could provide significant buying power down the road. However, when there is an across the board breakdown like the one that the market has recently experienced, it usually takes some time for a solid bottom to develop and a significant rally to materialize."
day, most of the traders on this board are playing with the houses money. January was my best month in year or so. Traders trade volatility. Staying positive (still not sure why you keep harping on this) is great, but last time I checked it doesn't pay the mortgage. The statistics you quote, make the case for a bounce. The market and the economy have a cold, turning the money machine on, may not be the cure. Ever think of that?
Wait for the market to short itself, and then short it.
Do not try to pull the horse, just ride it when it heads your direction. Let others do the pulling for you.
Do not try to pull the horse, just ride it when it heads your direction. Let others do the pulling for you.
Quote from S2007S:
My vote was for C.
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mine too - I think retracement is close to complete - trapdoor is ready to swing open - long March SPY puts and tight stops on all your longs
as a trader it is important to know which way the trend is even though we are daytraders. trends that point northward allow us to hold winners a bit longer but in a downward biased market,we take the quick scalp and move on. right now we are in rally mode for whatever reason. personally i think its the fed and stimulus plans due to the election year.my own take is the market/fed is just biding its time and its ots only a matter of time before we get a big down turn. this market took a very long time to catch up with deteriorating fundamentals and its back in denial once again just like august. everyone seems to think the worst is definitely now over. my problem is employment. the employment picture has'nt deteriorated nearly enough to show the true strength or lack of in the economy. we need to see a further colapse in the employment picture and wall street seems to be paying attention to the headline rate than the jobs that were actually lost. i think we tick up to over 6%.