This Market Sucks!!!

[Aaron Copland]

Seems when ever the equity market trys to rally crude rallys to. If we clear $100 and hold it I just don't see how this can be good.

It seems so strange for the fed to be cutting rates with oil @ 99.00 so strange.

Commodity prices say ne recession. So why did the fed cut? Had the fed stayed out of they way and let the FREE MARKET sort things out we would have had the recession we needed to correct soaring commodity prices.

Now we get more inflation and no wage growth just dandy.

 

[retire45]

Thing is I am (supposed to be?) a swing trader but VERY difficult to hold your ground in these conditions.. EVERY swing stop is take out.. and I can't give as much berth as the markets seem to want.. Or stay out until the 1320 to 1370 is left for good?... Then at 1310 or 1380 there will be something to kill the trend.. again

 

[HedgefundTrader2]

Quote from youngtrader:

Manufactured price action imo to squeeze weak shorts and take advantage of dumb longs who bought in at the close and will buy in monday morning.

Anybody who doesn't think wall street runs this way is sadly mistaken. You don't get filthy rich playing by the rules guys!

Simply somebody was caught on the wrong side and like earlier stated we were holding our ground around 1330 so all it took was a silly rumer (which doesn't mean anything in the long term) to pop us up enough to hit stops enough to close substantially higher.

To whoever the hell did this I admire you and commend you for a job well done.

Admiring these Wallstreet cockraoches who prey on rest of us ? They knew you were very tired and weak after 2 days of relentless selling and the SPX TRIANGLE that was supposed to break downward?

They knew when you are all done locking your desks and fumbling for keys they can come in and hit a buy program and snatch away clothes off your ass.. They knew.

 

[youngtrader]

Quote from day7793:

Admiring these Wallstreet cockraoches who prey on rest of us ? They knew you were very tired and weak after 2 days of relentless selling and the SPX TRIANGLE that was supposed to break downward?

They knew when you are all done locking your desks and fumbling for keys they can come in and hit a buy program and snatch away clothes off your ass.. They knew.

Of course they knew! Thats what im getting at. I was not one of the weak shorts though (they can go fuck themselves because im holding my ground with my shorts).

The key is for us small guys to be able to recognize this again when it happens and profit from it.

Regardless this is all just a head fake and we will trade lower next week imo.

 

[WAEL012000]

Quote from makloda:

Very simple: You're short!

If he is short then you were long. and by the time it was 3:00 PM, you were greasing your butt for the new job that you were about to take.

I dare anyone...Anyone to tell me that they have predicted what happened. A rumor is a rumor and I take my hat of for the people who made the move in the last 45 minutes of trading. They had balls.

And by the way, I am short 3 ES contracts at 55.25 since yesterday. My profit target is 1312.00.

Now smart ass, how much you want to bet that I will see my 1312 before you see your 1375???

As for you? God do I hate hindsight super stars. Stop compensating your lack of self esteem and confidence by putting people down and learn how to be gracious in this market buddy. It is people like you who take a leap...from the 23rd floor.

 

[S2007S]

Quote from Aaron Copland:

Seems when ever the equity market trys to rally crude rallys to. If we clear $100 and hold it I just don't see how this can be good.

It seems so strange for the fed to be cutting rates with oil @ 99.00 so strange.

Commodity prices say ne recession. So why did the fed cut? Had the fed stayed out of they way and let the FREE MARKET sort things out we would have had the recession we needed to correct soaring commodity prices.

Now we get more inflation and no wage growth just dandy.

They dont care how high oil or any other commodity is right now, they dont care about the falling dollar, all they care about is lowering rates and getting plenty of liquidity back into the markets. If it takes a 2% fed funds rate with PLENTY of inflation they will do it. They dont understand how out of control inflation is going to get over the next 12-18 months, all they care about is keeping the markets from going into a bear market, good luck because not only are we in a bear market but were also in a recession, they should keep rates where they are at or at least raise them to 4%, anything lower is going to create incredible inflation.

 

[S2007S]

Quote from WAEL012000:

If he is short then you were long. and by the time it was 3:00 PM, you were greasing your butt for the new job that you were about to take.

I dare anyone...Anyone to tell me that they have predicted what happened. A rumor is a rumor and I take my hat of for the people who made the move in the last 45 minutes of trading. They had balls.

And by the way, I am short 3 ES contracts at 55.25 since yesterday. My profit target is 1312.00.

Now smart ass, how much you want to bet that I will see my 1312 before you see your 1375???

As for you? God do I hate hindsight super stars. Stop compensating your lack of self esteem and confidence by putting people down buddy and learn how to be gracious in this market because it is you who take a leap...from the 23rd floor.

1312 before 1375 would be impressive, im with you, no one new this rally was coming, it was based on nothing else BUT RUMOR, sad that in 1 hour everyone thinks the markets are back in bull market and that 14k is just weeks away, now that is funny. The dow will revisit 11750 again and possibly 11k without question. SELL THE RALLIES..

 

[WAEL012000]

Quote from Nasdaq5048:

And by the way, there were all kinds of divergences (NYSE tick and a 15000 vol chart) from the chart that i watch. Not a surprise at all.

That is not true! Volume was health throughout the day. IMHO, an increase in volume over a one 15 minutes bar is not enough for anyone to conclude a reversal.

 

[blackchip]

All these false breakdowns are training the bears.

Eventually there will be one that's not a fake and most of them won't take it.

 

[joeb8822]

If you don’t have a small TV in your trading I suggest you get one and have it on CNBC there is to much out there that can move a market on a dime.

I feel for any of you who got hurt in this today, but when Gasp.
came on CNBC and said Bailout for the Bond Ins. I was saying to myself OMG get long

You always can look at like this what happened today could have
been planted, the short side of this market is a very crowed
arena and some big players wanted to have a little fun but now you know you can't trade without stops no matter what 2 pts
3 pts whatever works, but just say to yourself this will never happen again.

I did not have a TV in my office about a year ago and got caught on the wrong side of beige book report and TV went in next day. LOL

You dont have to listen to the bullshit they say, just for the next 6-12 months with all the risk in the marketplace it can help you
with this so called BREAKING NEWS!!

Monday is another day


Take Care.

Joe Baker