Why isn't the market going down?

So in other words the "market" feels like things are going to stabilize or turn around despite people paying more than $50 a tank?

I guess that's what I'm not getting. If gas prices really stay this high people will be spending less and so less jobs will be available.

Are there actual signs besides energy company earnings that the economy is really going to turn?

Thanks for all the responses so far.
 
Quote from MustPlayOptions:

So in other words the "market" feels like things are going to stabilize or turn around despite people paying more than $50 a tank?
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You would make a lot more money if you spent less time worrying about what the market "feels" and simply trade what you see.


Write that on a piece of paper and read that every day and that is all the trading psychology you ever need. :D
 
Optioncoach, Why not give us a few good call or put positions so that we can make double to triple our money in short time. We dont need general advice but specific calls so that we can trade like you do.
 
Quote from Port1385:

Optioncoach, Why not give us a few good call or put positions so that we can make double to triple our money in short time. We dont need general advice but specific calls so that we can trade like you do.
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If you want to make double or triple your money in a short time subscribe to FantasyLand Newsletters.
 
You are elitetrader's optioncoach with over 6300 posts. Why cant you give me one good setup, one good play that will make us money? Since you are so experienced, surely you can give us one good play where we will rake it in.

Quote from optioncoach:

If you want to make double or triple your money in a short time subscribe to FantasyLand Newsletters.
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despite what all of the 'know it alls' proclaim here, this IS a very perplexing market

oil prices sky high and climbing higher, yet the dollar bottomed (temporary at least) 2 months ago

transports looking at new highs, higher than anything else with record expenses

indexes in relentless climb, with the consumer totally tapped out from gas prices
 
Quote from Aaron Copland:
It's the index futures man, the big houses run the index futures up and down with ease.
Gap open the cash, stocks get a free mark up at the open thanks to the futures.
Watch the overnight session you will see the high or low for the next day in the futures.
Index futures to perfect tool for manipulation.
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ROTFLMAO
 
Quote from MustPlayOptions:

I know that there's speculation that the sub-prime crisis may be ending but with gas prices as high as they are and the number of jobs being lost, why isn't the market turning down?

Thanks,
MPO
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You are being far too naive when it comes to fundamentals and economics. Do you honestly think that the ENTIRE market marches to the exact same drummer?

The oil sector is on fire, and that weighting in the S&P helps support the SPX a bit. Financials look to have made some significant trading lows based off of incredibly bearish sentiment. Defense stocks have continued to benefit off of all of those Defense "Supplemental's that Congress has been passing year after year . . . All this, combined with some very strong earnings in the cyclical patch with names like Potash, Monsanto, Deere, and Catepillar and other infrastructure plays . . . not too mention strong global demand for IBM's and CSCO's products, and low and behold DISNEY comes in today with incredibly strong numbers for their theme parks and resorts . . .

If you ACTUALLY "listen" to what the market is trying to tell you ( instead of being BIASED ahead of time ), then there are some easily defined uptrends found in this current market environment.

Your problem is that you have been BIASED to begin with, and most likely do not use any technical analysis tools to realistically define what the TREND really is.
 
1) the market =/= the economy. they are not the same thing
2) if i hear one more person complain of "manipulation" of the futures. there is no such thing. orders can either be made to buy or sell. limit or market. that's it. it's not "manipulation" when it moves other to how you want or predict
3) the overnight session is significantly affected by overseas traders (and traders trading overseas markets). it isn't just a bunch of guys trying to run your stops.
4) the VAST majority of the volume in the futes is arbitrage/program trade/hedging by institutions. NOT price speculation/directional trade. so, contrary to your beliefs, "they" are not "manipulating" the markets to fool you, or anybody. this is less true in extremely quiet periods when floor traders take over to a greater extent.
5) the VAST majority of retail traders lose in futures. most don't truly understand what is going on, and also fail to properly manage risk. the futures let you take on far more risk/leverage than is prudent for most people, especially unhedged
 
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