The Bull Is Back wow!!!!!!!!!!!!!

Quote from piezoe:

While the end of the major bear phase we are in is at least a few years off, it was nice to see a little rally get underway. Oil will be down for awhile before it goes back up after the election. Unfortunately high oil isn't the driving force behind this bear, but merely one of the symptoms of a virulent economic disease.
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Oil is the new greenback gold standard. Since the FED shat on the dollar the rich have to create new money with premium buying power somehow. It's a permanent hedge.

Oil wont ever crash, until like an over-sexed bi-polar sufferer everyone's tapped the geysers dry.
 
It looks like the parade of financial writedowns and bad news is coming to an end. Nearly all sectors where up huge today. Later energy and materials will rally and the market will rise even more. Bad time to short the market. If you made profit good time to cover.
 
Quote from ByLoSellHi:

Oil has sustained technical damage, and could easily drop $20 to $30 in a week.

Watch the rush to the exits if it drops again tomorrow.

Pain for the late comers.

Time to book profits for those long all along.
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qft
 
The past two late-day rallies have been more short covering than actual buying. Today was NOT a short sqeeze -- it was bonafide, sustained buying. The past couple days have been "buy at any price -- just get me out." Today was planned and orderly buying, which is indicative on institutional buying. No one knows for sure if the market has bottomed but the past few days have been EXACTLY how bottoms are formed. All you can do is put on your longs and manage risk. From there just let the market do what it's going to do. Long is the place to be, jmho.

Quote from Bowgett:

Don't confuse short squeeze with bull market.
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Quote from ProfitTakgFool:

The past two late-day rallies have been more short covering than actual buying. Today was NOT a short sqeeze -- it was bonafide, sustained buying. The past couple days have been "buy at any price -- just get me out." Today was planned and orderly buying, which is indicative on institutional buying. No one knows for sure if the market has bottomed but the past few days have been EXACTLY how bottoms are formed. All you can do is put on your longs and manage risk. From there just let the market do what it's going to do. Long is the place to be, jmho.
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Sucker's bet. Today's head fake is meant to catch a landfill of stops on the way down from of a 40+ drop afterhours to close tomorrow.

There wont be a sub or prime corner won by buyers the rest of the week..

I'm GTC short in YM and ES.
 
I'm long the YM and holding but here's the thing....you might be right or I might be right but that's not the point. Investing and trading is all about listening to the market, taking a position based on what it is telling you, then managing risk. Today, like a few days last week, the market told me to go long, take a partial, and put in a stop. So far that strategy has yet to get me in where I can leave the runner on a walk away but -- and this is what seperates the men from the boys -- I'm profitable on all of my positions even though I was dead wrong about the bottom being in. I may be wrong again today but I'm long the YM from 11211 and holding. My stop sits a few ticks above break even.

I really don't give a rats ass whether I'm right or wrong. All I want to do is see a green number. Do we rally into tomorrow? I think we do be we shall see.

Quote from Xuanxue:

I'm GTC short in YM and ES.
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Quote from Xuanxue:

Oil is the new greenback gold standard. Since the FED shat on the dollar the rich have to create new money with premium buying power somehow. It's a permanent hedge.

Oil wont ever crash, until like an over-sexed bi-polar sufferer everyone's tapped the geysers dry.
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You're very likely right about that! :D
 
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