Why is this market going higher??

Quote from myminitrading:

frigging oil is about to explode, the stupid fed can not stop raising rates, all indicators warning rising inflation. But the market is moving higher with a hurricane headed our way. How phoney is this rally? Oh dont tell me Time warner sparks a rally hahaha.
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i can empathize with you man. reality is coming. personally i've just been working on systematically defining highs in the meantime, and scaling in short at shock and awe highs with a little patience has been rewarding
 
Quote from Pabst:

1. Since when has the market been spooked by higher oil?

2. Yields have come in by 10-20 basis points across the board in the past week. If Bond traders aren't worried about inflation why would equity traders care?

3. Hurricane? Grow up. It's hurricane season. Hurricanes are hardly "black swan" events. The media will be exaggerating each hurricane for the next two months. If Katrina couldn't break the market no other hurricane will either.

4. Time-Warner didn't spark the rally, short covering that spilled over from yesterday did. You've got to be nimble and VERY flexible to trade this stuff. I'm bearish but the tape starting screaming buy yesterday afternoon when those early morning lows kept holding. If this stuff was bearish ES would have made new lows late. It didn't happen. Why? Because there's TOO MANY shorts.
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MminiTrader;
Dont overweight fundamentals;
its NOT FUN that way:cool:
Keep it fun, dont overweight fundamentals like you did.

Also first day/week of month tends to be bullish;
weak rally for sure [see august 1st candle,ES YM closed a bit lower, despite eod rally]:cool:

ESpecially dont overweight CNBC news like quote''Bird flu for sure, pandemic'';not only are many predictions wrong just read a another report by a medical Dr, bird flu probably a non event.[Not a prediction:D ]
 
well i guess i was right
they were fucking with me ( short 1 es 2 ym ) shoook me scared me tried to screw me and then rewarded me :)( was short all the way to 1280 :) )
never go with the news casue 95% of the pll will be doing that
israel hurrinace oil is all bullshit and manuplitating
so just go with the Hi and low
 
Quote from myminitrading:

frigging oil is about to explode, the stupid fed can not stop raising rates, all indicators warning rising inflation. But the market is moving higher with a hurricane headed our way. How phoney is this rally? Oh dont tell me Time warner sparks a rally hahaha.
More...

"But not even a world war can keep the stock market from being a bull market when conditions are bullish, a bear market when conditions are bearish. And all a man needs to know to make money is to appraise conditions."

Edwin Lefevre
Reminiscences of a Stock Operator (pg.61)
 
Today is a classic jam the futures day with little underlying movement in the issues. In case anyone hasnt realized the market is really just concerned with liquidity and nothing else. Its easy to do 5000 futures and jam this crap higher. its been this way for years now.
 
cramer is right that everything is just etfed and indexed to death. The trading is really more dominant than whats behind it. I guess thats why exchange stocks have done so well.
 
this is getting so boring. Stocks should be glad that oil and energy is high because it is the only think holding the spoos up. I love this csco nonsense after the close.
 
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