Who's fading this move up?

NoDoji · Oct 20, 2008

Quote from stock_trad3r:

the upside is huge. Dow 12,000 on panic covering and then a steady rally to 14,000 within 15 months.

I don't understand why so many ET-ers are always on your case, stock_trad3r. The laughter your commentary generates from me is adding years to my life

All in good fun!

dsq · Oct 20, 2008

Quote from cunparis:

Today's light volume is troublesome for me. I'm long ES and debating when I should sell.

Either today's volume was the sign that there were no more buyers,

or people are waiting for a little more move up before jumping on

I'm not sure which.

Total fake pump/manipulation in the last 30 mins.No volume...up on air...Should be great for a short set-up.But i am keeping my eye on credit market thawing out a little here.That could provide a strong rally.Im waiting for earnings this week and will look for appropriate shorts.

scriabinop23 · Oct 20, 2008

Quote from dsq:

Total fake pump/manipulation in the last 30 mins.No volume...up on air...Should be great for a short set-up.But i am keeping my eye on credit market thawing out a little here.That could provide a strong rally.Im waiting for earnings this week and will look for appropriate shorts.

Yes. The libor coming down and fear coming out of the mkt would make sense setting up for some market support around here, considering all of the capitulation that has recently occurred. But then again, Lehman CDS gets resolved tommorow, earnings come out (which won't be good... ie look at TXN. I don't see it rallying on bad news) should be supportive of pressure on price.

If history repeats itself, though, we'll be testing 900 within 2 or 3 days just with the normal course of volatility.

Susannah · Oct 20, 2008

AXP earnings were good, it's up quite a bit AH. CAT and MMM coming tomorrow. I think MMM's are expected to be good. (just for perspective compared to TXN)

JamesVU2000 · Oct 20, 2008

youre too bearish

dsq · Oct 20, 2008

Quote from Susannah:

AXP earnings were good, it's up quite a bit AH. CAT and MMM coming tomorrow. I think MMM's are expected to be good. (just for perspective compared to TXN)

AXP wasnt a disaster so thats good.

CAT/mmm in the morning should rule the market.CAT has been murdered.Guess it all depends on their forward guidance with the effects of the credit crisis on their biz.

saliva · Oct 20, 2008

Quote from stock_trad3r:

the upside is huge. Dow 12,000 on panic covering and then a steady rally to 14,000 within 15 months.

You've been spitting out the same crap for the last 2 years long before the credit mess got underway. But then like a broken clock, I have no doubt you will eventually get it right...eventually.

Susannah · Oct 20, 2008

Quote from dsq:

AXP wasnt a disaster so thats good.

Yes, that's definitely more accurate

Just meant market was taking them as good.

Cutten · Oct 20, 2008

Quote from Landis82:

Good Luck on that.

Agree.

47% bear market in 11 1/2 months from non-bubble valuations, widespread fear, most oversold since at least the post 9/11 selloff, and we've now made a higher low so momentum is at worst neutral and probably bullish. Value players like Buffet moving in, forced-liquidations from noob hedge funds done, things so bad the government is printing money to prop up the system...

The odds don't favour shorting IMO.

Cutten · Oct 20, 2008

Quote from detective:

This is a sucker's rally.

In that case, was the prior collapse a "sucker's fall"?

Points are points. If i take 100 points per contract on the ES, I don't get a haircut because it was a "sucker's rally" and I don't get a bonus payout because it was a "real" rally.