Scared of what? Why is everything Bulls and Bears with you? You sound like a tape recording of Artie Cashin.
So is tomorrow knife-to-the-gut day?
- Thread starter Saltynuts
- Start date
Make that 90% if the CPI number comes in cooler than expected...at 8:30 am EST.
Nope, very much the opposite. Because:
This did in fact happen. Very normal looking volume into the close today, and strong buying between 1 and 2pm (which was why the previous post). I'll be doing some profit taking tomorrow by rolling and sell off some bearish positions I'm holding as hedges that I'll no longer need because I'm no longer fearful this was a dead cat bounce. Obviously market conditions tomorrow could alter my sentiment.
Today wasn't low volume, just lower volume. We just shook out the last low volume day on the 10-day average volume so it's artificially high right now. But today was ordinary volume and in the context of the buying I view it as the end of the correction and return to business as usual in this insanely bullish bubble. (Take a look at AMZN's chart--today's volume was higher than every single day between the August and October earnings)
We also saw another day of this:
My read on that is we'll see buyers stepping in to pick up any weakness on these stocks, and these are some big names too. AAPL, CAT, JPM, AMZN, COST, SQ, MSFT, CSCO, M... Those will be enough to rise the tide and lift all ships. And those stocks contrast with things like GE, GM, FB, IBM and INTC which saw down days and slightly shy of average volume.
So, to me today signaled the all clear and that a monkey with a buy button will make money. I plan to be that monkey.
Because I could be held accountable if I gave symbols and price targets.
Forget it, That’s not what I was getting at.
It should. It is overhyped.
