Stocks going through the floor
- Thread starter PohPoh
- Start date
Don't you love how that music plays every time you load this page. I mean, every time! You gotta love it!!
Todays rally was impressive. Looks like a lot of short covering and its also expiration week. If we go above 1518 next week i'll start to become a believer, but 1518 means nothing this week, open interest has maxima at 1500 and 1525. Still the same negative factors weighing on the market as before. Interest rates rising and inflation skyrocketing. Retail sales up. but this is May. IRS refunds?
wait for the double bottom in bonds. =)
Don't all you doomsayers get tired of looking like total retards?
Jason, here's the deal. I'm by no means a doomsayer. The market is never wrong and it will tell us what it is going to do in due time. And if you're an intraday trader, as i am, you really don't care. But i am also an investor. As an investor i know that avoiding major losses is crucial to the bottom line (i'ts also crucial in trading, of course.) Now, if you are an investor, the prudent thing is to be on the sidelines for awhile until the market tells us what it wants to do. If you look at the monthly you will see that we are not officially in a down market but threatening to be. And there are a plethora of negatives out there. The risk of being whole hog long right now is too great. Play it cool for a awhile. There will be plenty of time to get back on the spaceship if we resume our trip to the moon. But if you stay long in this market and we correct hard you've suffered a major setback. Chill out, enjoy your gains, and adopt a wait and see attitude i say. Learn to take your share out of the middle and forget about trying to pick tops and bottoms.
Jason, here's the deal. I'm by no means a doomsayer. The market is never wrong and it will tell us what it is going to do in due time. And if you're an intraday trader, as i am, you really don't care. But i am also an investor. As an investor i know that avoiding major losses is crucial to the bottom line (i'ts also crucial in trading, of course.) Now, if you are an investor, the prudent thing is to be on the sidelines for awhile until the market tells us what it wants to do. If you look at the monthly you will see that we are not officially in a down market but threatening to be. And there are a plethora of negatives out there. The risk of being whole hog long right now is too great. Play it cool for a awhile. There will be plenty of time to get back on the spaceship if we resume our trip to the moon. But if you stay long in this market and we correct hard you've suffered a major setback. Chill out, enjoy your gains, and adopt a wait and see attitude i say. Learn to take your share out of the middle and forget about trying to pick tops and bottoms.