S&P500 continues its uptrend since the 52 weeks low of 741.02

kitty1996 · Dec 16, 2008

This market is definitely a "buy on weakness" as S&P500 shows a clear uptrend since the 52 weeks low of 741.02- on NOV 21st.

Now its trading above both 10&20SMA on daily. Next resistance is 932.23. I'd not be surprised to see 1000 level reached in Q1-2009.

Even in bear market, we still can have mini rally, ride with the trend & buy on weakness before the S&P hits 1000 next year.

forextrades · Dec 16, 2008

We'll see the S&P at 500 sometime within the next four years.

People are still bullish and I can't figure out why.

stock_trad3r · Dec 16, 2008

Quote from forextrades:

We'll see the S&P at 500 sometime within the next four years.

People are still bullish and I can't figure out why.

People said the same thing in 2002, too

kitty1996 · Dec 16, 2008

Quote from forextrades:

We'll see the S&P at 500 sometime within the next four years.

People are still bullish and I can't figure out why.

The market is bullish at the moment. We ride the wave, short term. No need to be married to any trend for too long. Who cares about 1 year from today, forget about 4 years. We don't have time to wait that long. We just get in & out as the trend starts or ends.

circadian · Dec 16, 2008

Quote from stock_trad3r:

People said the same thing in 2002, too

No, the difference is that the economic fundamentals of the entire globe have degraded to a serious point. And we can't "war" our way out of this one.......or can we??

stock_trad3r · Dec 16, 2008

Quote from circadian:

No, the difference is that the economic fundamentals of the entire globe have degraded to a serious point. And we can't "war" our way out of this one.......or can we??

Instead of printing money to start a war, govt. will print money to bailout 'too big to fail' companies and issue huge stimulus packages. The end result is the same. The fundamentals haven't really deteriorated at all if you look beyond what the doom and gloom media is spoon feeding you.

paysense · Dec 16, 2008

Like the OP said, most people do not know that with the market you need to throw out all preconceived notions and just take it for what it is.

It will sort itself out. Rally, base or correct.

pay$

circadian · Dec 16, 2008

Quote from stock_trad3r:

Instead of printing money to start a war, govt. will print money to bailout 'too big to fail' companies and issue huge stimulus packages. The end result is the same. The fundamentals haven't really deteriorated at all if you look beyond what the doom and gloom media is spoon feeding you.

Do yourself a favor.....visit this link: http://www.conference-board.org/pdf_free/economics/bci/LEI1108.pdf

This is a compilation of "real" fundamental economic data. You should not base the fundamentals of our economy on:

BIDU
POT
MOS
CHK
SIRI

But you always seem to do so.

I don't listen to the media, I mine my own data, and make my own assumptions. I would advise you to do the same.

kitty1996 · Dec 16, 2008

Thank you for all replies; however, you all got mixed up with trading & investing. The short trend is now up, ride the wave. Get out when the trend reverse. Simple as that. Buy on weakness, near 20SMA-on daily....... to sell into strength, near 50SMA-on daily...(repeat the actions unless you sees otherwise)..... is the way to go.

Short when this market turns. For now Q1-2009, the market will be bullish, not bearish; I'll not hold any major short position over night....before Q1-2009 ended. If you are bearish, wait until March 30-2009/or April 15th-2009...to short, not now.

This market is on a bounce for now until end of Q1-2009.

retire45 · Dec 16, 2008

Quote from kitty1996:

Thank you for all replies; however, you all got mixed up with trading & investing. The short trend is now up, ride the wave. Get out when the trend reverse. Simple as that. Buy on weakness, near 20SMA-on daily....... to sell into strength, near 50SMA-on daily...(repeat the actions unless you sees otherwise)..... is the way to go.

Short when this market turns. For now Q1-2009, the market will be bullish, not bearish; I'll not hold any major short position over night....before Q1-2009 ended. If you are bearish, wait until March 30-2009/or April 15th-2009...to short, not now.

This market is on a bounce for now until end of Q1-2009.

Rally till Mid March??? I'd be shocked.. Each wedges within this Bear markets has lasted at most 8 weeks, and this one started just before thanksgiving.. So and Jan 20 at the latest we should see our next top. Markets have tended to bottom in March.. which works well with the Late 09/early 2010 recovery talk.