Why is the market going up?

Just to be sure I'm not asleep at the wheel, I pulled up NI FLASHG7 again on Bloomberg. I'll cherry pick the following two items:

*KOCHERLAKOTA SEES NO NEED FOR FURTHER ACCOMMODATION
*FED SAYS A `FEW MEMBERS' OF FOMC SOUGHT STRONGER ACTION AUG. 9

Hardly a sure thing, no?

Quote from kashirin:

are you in the cave? read fed minutes, read what fed representatives said today
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Quote from Wolfgang1756:

We are humans, and so we can think! It is just logic or common sense even.

Anyway, it will go down later this week or next....
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Just don't try to use your "common sense or logic" to trade. You can always come up with reasons (some very rational) why the markets should go down. In fact, you could have a good case against every rally since the tech bubble started and valuations went off the charts in the mid-to-late 90s...

But if you tried to short all of them, you'd have left the game long ago.
 
Quote from Wolfgang1756:

It is really p*ssing me off. :mad:

Obviously this is a "suckers" rally. Why are these idiots buying???

I hope all those sucked into this "rally" go broke and get unemployed! Hopefully they will add to the current 9.1% or whatever it is...

Sorry but I had to vent my frustration...
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NYSE Short Interest Soars By Most Since March 2009 S&P Lows, Highest Shorting Since June 2010.

The 'suckers' buying are covering shorts and getting butchered doing so on shit volume.
 
Quote from Wolfgang1756:

It is really p*ssing me off. :mad:

Obviously this is a "suckers" rally. Why are these idiots buying???

I hope all those sucked into this "rally" go broke and get unemployed! Hopefully they will add to the current 9.1% or whatever it is...

Sorry but I had to vent my frustration...
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Funny how you can always tell when someone is on the wrong side of the market.
 
Quote from Red_Ink_inc:

NYSE Short Interest Soars By Most Since March 2009 S&P Lows, Highest Shorting Since June 2010.

The 'suckers' buying are covering shorts and getting butchered doing so on shit volume.
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Just as I thought... its a short squeeze, possibly by some fundies who are trying to make their portfolios look less shitty, aug was a pretty brutal month.
 
Quote from Wolfgang1756:

It is really ...
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It really depends what time frame you trade. You know that markets rarely go straight in one direction; they have dominant moves and retraces in all the time frames.
 
Quote from DontMissTheBus:

Just to be sure I'm not asleep at the wheel, I pulled up NI FLASHG7 again on Bloomberg. I'll cherry pick the following two items:

*KOCHERLAKOTA SEES NO NEED FOR FURTHER ACCOMMODATION
*FED SAYS A `FEW MEMBERS' OF FOMC SOUGHT STRONGER ACTION AUG. 9

Hardly a sure thing, no?
More...


yes, you're
why instead of reading headline not to read the actual speech
my headline would be
*kocherlakota accepts his mistake, never ever will vote against Bernanke
 
=> Consumer confidence is down (47, expectations were 52 as I recall)

=> More QE = won't help, but it's a nice drug

=> Gold/VIX up (just unloaded TVIX that I purchased earlier, about 5% jump)


Seems like the markets will go DOWN, not up.
 
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