"The Day of the Lundy!!"

D

Don Bright

Who knows, was 7700 the real low? What great volatility...and when Maria said it was time to "make money on the short side" yesterday....well, who could ask for a better indicator (sorry, Maria, but that was classic).

Record day for opening onlys, near record day for traders single day profits.....

So much for the "Summer Doldrums"....

Hope everyone did well....this was classic....

But who knows about tomorrow?? Guesses anyone??

Don
 
I agree Don,

This may or may not be the bottom (short term), but when I read that Maria B was saying that we should just call this a Bear market and starting making money by shorting stocks, I said "now that's what were looking for". I liked the nice gap open and reversal bar that formed on the VIX as well.

Usually, when the most ardent Bulls (read CNBC) give in and start discussing how to make money in a Bear market or have guests that talk about their Bear strategies, I start closing out shorts and keep on the look out for longs.

Sean
 
We had a few guys who "threw in the towel" yesterday on (longer term) their long positions,,,,too many things coming together at one time....good bounce, no matter what...good trading.

Don ('hype master" supreme)....lol
 
And id especially like to thank those that threw in the towel on
Msft, Ebay, Usai and Nem..........heheh......Your guys have any of those sweetie pies Don? :D :D :D


-Flyin it High
 
That almost sent shivers down my spine when he said that the market's too tough and that he didn't think he could pick any good stocks.:D

What a bottom call!! He looked like he was about to cry!:p

It reminded me of when those hedge funds closed in early 2000 because they lost so much from shorting all the way up!

Hope everyone made out good today!:)


Tony
 
7700 is likely not the definite low...if it is it will be retested. Bear markets like these dont reverse on a V with a 480 point rally one day on the DOW. If it goes through 7700 it will also likely be retested at least once more.

BTW Maria is a meathead.
 
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