What caused this huge rally after 1PM ?

[Ivanovich]

Quote from stock_trad3r:

Dow 14,000 by 2009

the 'v' shaped recovery is real.

the market discounts the bad news and rally in anticipation of increased economic growth.

a temporary, one year, decline in profits can be mitigated bya projected multi-year increase in growth

Down 14,000 by Jan 1? IF not, will you go away again? This time for good?

 

[dsq]

no selloff yet this afternoon just no sell orders coming in so the bids are going nuts....friday will pop on the open then big sell off for the weekend.

shit i sold mcd 3pts ago-that was just 3hrs ago!

 

[MKTrader]

If he just stays away until Jan 1, we might have a nice, sustained rally. No one will be there to jinx it.

Quote from Ivanovich:

Down 14,000 by Jan 1? IF not, will you go away again? This time for good?

 

[stock_trad3r]

Quote from Ivanovich:

Down 14,000 by Jan 1? IF not, will you go away again? This time for good?

I took a three month break and returned just a few weeks from the october 10th lows. I think its's all upside from here so I will still stick around.

.every 10 minutes +100 points on the dow. nuts.

Edit: retail sales out on Firday. That could be good for another 500 points.

 

[drsteph]

I might regret it tomorrow but I just had to sell that close.

+ SDS @ 90.70

Great fill for today, but might not be for long!

 

[EMRGLOBAL]

well, this rally was strong but will it last? I do not think we will selloff tomorrow, but head sideways in a range,even with good retail sales numbers.

Bear markets have rallies and we are do for at least a 7 day rally situation, back to back.

Is the bottom in, I wouldn't call it.

 

[Big Game Hunter]

Theres a triple bottom on the dow at 8000 that is potentially very bullish...

 

[riskfreetrading]

Quote from Hombre:

No, I am flat , I rarely trade in the afternoon, I was just thinking that there was some major anouncement or something.
Thanks,

There was announcement YESTERDAY!

I started a thread (maybe Ivan removed it because he was short) in which I warned bears that deep long white candles were being adminstered in the area of the bottom. They said no, and that they see no bottom, but we the smart money saw the gapping hole of the bottom, and white candle we have put them in there.

They did not believe it. Now they must feel it.

 

[andrewbee]

Quote from stock_trad3r:

Dow 14,000 by 2009

the 'v' shaped recovery is real.

the market discounts the bad news and rally in anticipation of increased economic growth.

a temporary, one year, decline in profits can be mitigated bya projected multi-year increase in growth

You're a nut, pal. This was a technical, i.e. meaningless, rally. There is no way the financial slaughter of the past two months has just disappeared.

The market will continue to be driven by pessimism for at least another year or two. We may see 14k again by 2015.

 

[stock_trad3r]

It seems all the econ data is priced in, as we saw in the prior two weeks. Bad sales numbers, housing data are expected. What matters more importantly is the outlook.

These huge funds run by smart people realize that the feds' bailouts, stimulus packages, and rate cuts will create an environment for sustained, multi-year growth and are loading up before the future econ data cofirms this. Also, the extent of the so called "recession" is very shallow. Even 8% unemployment (if it should get that high) and even a 2% contraction in GDP isn't a big deal by historical standards.

Finally, bear markets and recessions tend to be very brief and usually last no longer than 1-2 years. The recession tends to last just eight months. The reason why this so is because of fed intervention, free trade, and consumer spending.

I could go on, but I feel more confident about being long now (even with a large loss) than ever before.