By the way, I understand what you mean about vicious pullbacks in the midst of raging bull markets. The reason for that is as you pointed out, a unhealthy number of speculative longs in the market getting washed out. However, this was a vicious pullback in a rather lackluster market without tremendous and widespread speculative longs and bullish markets. To be sure, there are isolated speculative situations like GOOG, however, a vicious pullback in a relatively quiet market has a different meaning. It means that the market lacks enough bid support to prevent such a move. In other words, if the market was healthy, and people felt that they wanted to own stocks, the bids below the markets wouldn't have allowed the type of move that we witnessed. Investor interest would have dampened the downside. The fact that the market was able to fall as much as it did, to me, indicated a lack of investor support for the market, not everyone being caught wrong-footed in a speculative frenzy having to liquidate. Again, just my read, I don't want to make any wide prognostications here. Just explaining my caution.
Why isn't anyone discussing what is going on?
- Thread starter NTB
- Start date
'Vicious .. raging .. unhealthy .. wrong-footed .. frenzy'.
Jeez, what a complete mind**k people can get into burying themselves in horsesh*t.
Market movement, up and down, very big and big or not so big, yes, believe it or not, is what the market does and is what makes trading such an attractive cornucopia.
Jeez, what a complete mind**k people can get into burying themselves in horsesh*t.
Market movement, up and down, very big and big or not so big, yes, believe it or not, is what the market does and is what makes trading such an attractive cornucopia.
Lets see if this new push has enough legs to get to new highs(not today of course). That would be great.