Tomorrow Wednesday 09/09/2009: Beginning of Bear Leg

Right now, the path of least resistance is up. Institutional buyers have money to spend. Even bad news provides nothing more than a dip for them to buy into.
 
Quote from FB123:

"... This rally is like a vampire... you're going to need to drive a stake through its heart to kill it, and I haven't seen that stake... YET. Some more sustained selling on high volume would make me feel better about the short side.
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Could be worse than that. We could see another 3 or 4 doses of stimulus as the market slows down each time.

Market could go higher and higher... $USD decline... all while economic problems obviously continue to worsen.
 
Quote from Scataphagos:

Could be worse than that. We could see another 3 or 4 doses of stimulus as the market slows down each time.

Market could go higher and higher... $USD decline... all while economic problems obviously continue to worsen.
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That would be just fine with me! A market going higher and higher implies more volatility as the price range for each day continues to increase. It's a lot easier to make money at S&P 1000 than S&P 300 as a day trader. I'll take inflation over deflation any day.
 
An anecdote... first thing I thought of when I noticed today's date...

It's the anniversary of the highest 3-game series I bowled.... so would be fitting for a market HIGH today.. :D
 
Quote from Scataphagos:

You wouldn't if you could think it through to it's logical conclusion...
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Of course I would. It's better for me in the short term, I'd make more money from a more volatile market. As long as you don't keep wealth in the fiat currency and continue to convert it into things that actually have value on a regular basis it's not a problem. Of course our society would be in big trouble, but that's going to happen anyways sooner or later, nothing I can do about that.
 
Quote from Scataphagos:

You wouldn't if you could think it through to it's logical conclusion...
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The conclusion being that most of us here hold stocks instead of cash, so inflation is better?
 
Quote from noddyboy:

The conclusion being that most of us here hold stocks instead of cash, so inflation is better?
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Deflation is cleansing, economically refreshing. Inflation is DESTROYER OF WORLDS!

Inflation only SEEMS cool... until it gets out of hand and goes parabolic.
 
The move down is already underway in Qs before noon, and in SPY a little after 1PM today.

If it continues, the top is then on Wednesday September 09, 2009!

As per the comments on this thread, the majority on ET is bullish! That is another positive sign for a move down.
 
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