SPY, XLF, IYT - charts indicate that the Bottom is IN!
- Thread starter option_trad3r
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The bottom is in...definitely! Or..maybe it is. Or maybe it isn't. I don't know. It has been and will continue to be interesting to see how the market continues to digest investment bank and regional bank earnings results. Zero Hedge was spot on with the call on AIG padding investment banks earnings results...especially after Jamie Dimon left the meeting with president Obama and told Erin Burnett that MARCH was a tough trading month! Of all months, March was tough? Seriously? I love how Goldman forgot to mention December's financial results as well. Deceleration in bad news is a positive thing. Homebuilder confidence is a good thing. Lower than expected charge-offs are a good thing. Used auto sales rising (according to BBT conference call) is a good thing.
Nonetheless, even if the bottom is in, going long at these extended levels (depending on your timeframe) IMHO is not a very intelligent risk/reward trade. Also, if this really is 'the bottom', it doesn't necessarily mean that the market trends higher it just means it doesn't set new lows in the near-term.
We have BAC reporting on Monday morning pre-market. There's a slew of earnings on deck this week. I'm inclined to be short-term bearish. Earnings guidance along with technical factors are going to be a major influence over the next few days. I'm looking for swing shorts. Time will tell. Good luck.
Nonetheless, even if the bottom is in, going long at these extended levels (depending on your timeframe) IMHO is not a very intelligent risk/reward trade. Also, if this really is 'the bottom', it doesn't necessarily mean that the market trends higher it just means it doesn't set new lows in the near-term.
We have BAC reporting on Monday morning pre-market. There's a slew of earnings on deck this week. I'm inclined to be short-term bearish. Earnings guidance along with technical factors are going to be a major influence over the next few days. I'm looking for swing shorts. Time will tell. Good luck.
The rally looks like its running out of steam- the highs are coming in smaller and smaller on lower & lower volume.
The bottom could be in, but that doesnt mean we won't get 2 months of downtrend.
It's pretty stretched.. gonna take some real powerful stuff to keep it going much longer at this point imo
look at our last big bottom..
http://tinyurl.com/dkhtm8
i think we're gonna need to put in a higher low first.
The bottom could be in, but that doesnt mean we won't get 2 months of downtrend.
It's pretty stretched.. gonna take some real powerful stuff to keep it going much longer at this point imo
look at our last big bottom..
http://tinyurl.com/dkhtm8
i think we're gonna need to put in a higher low first.
S2700S, show me where the "depression" is. Malls are still packed, people are still driving Hummer, buying iPod, Blackberry. No depression. Everything is doing fine.
Soros, Jim Rogers, Roubini, they're all wrong. Everything is just absolutely fine. Show me where the breadlines are, buddy..
Soros, Jim Rogers, Roubini, they're all wrong. Everything is just absolutely fine. Show me where the breadlines are, buddy..
Buy the dip on Monday. All aboard! The train is leaving soon 
something tells me there will be more than a Monday dip between now and July
Something tells me your account will be blown up between now and July. Woohoo.
Seriously, the soon-to-be-released stress test result will be very good. The banks will be making money.
Seriously, the soon-to-be-released stress test result will be very good. The banks will be making money.
Fine, hahaha
The second biggest mall operator just filed chapter 11, commercial real estate and credit card delinquencies are the next problem for the economy. How many TRILLIONS of dollars have been printed to keep this economy afloat. Remember this can only last so long, you cannot spend or print your way out of this credit crisis. You will see in due time.
Blah blah blah. Your account will be insolvent before seeing this whole thing really crash.
Oh wait .. you're probably one of those little pesky $25k account traders... don't really matter in this TRILLIONS of dollars economy.
Oh wait .. you're probably one of those little pesky $25k account traders... don't really matter in this TRILLIONS of dollars economy.