Hopefully today is finally the day for the pullback... I mean its becomming painfully obvious the economy is slowing and that soft landing may not happen.... there is only SO long the market can continue to ignore the bad news.. at some point it will reach a critical mass and everyone will run for the doors... is today it? No clue... but I think we probablly drift slightly lower from here to the elections... dont think they will let us drop hard yet.. more like a gradual drift so that it doesnt scare any voters...
Sorry guys no chance for a down day
- Thread starter myminitrading
- Start date
Why would any rational person fight the trend?
I started in late July, could quit now AFTER a 10% decline from where I am now, and still walk away with a 14% gain.
I absolutely believe we're going to see a correction soon, but I'll make what I can while I can.
I started in late July, could quit now AFTER a 10% decline from where I am now, and still walk away with a 14% gain.
I absolutely believe we're going to see a correction soon, but I'll make what I can while I can.
If we fall back through 12100 on the dow I am opening some shorts because I think it will signal a correction... Several days now it has been opening lower, then rallying off of that low and finishing green.... it started to do the same thing today, but if the bulls can not get enough steam to keep it from going back below this mornings low I think it will be the start of a small correction....
I think until the mkt shows its hand (on the downside), it's really hard to hold a short position with confidence. Wait until we have our first decent down day to get aggressive on the short side. Something that says this run up is done. Yesterdays move was a bitch. Finally looked like we had some good selling, then mysteriously, we rallied back up all day. It is what it is right now, and until things change no reason in fighting it.
Its about time to start the slow light volume advance, and then finish the day at yet another record for stocks in the land of perfect.