Good questions. i am seeing lots of people calling a
bottom and it seems almost unanimous (at least by the various sites
i visit), that we have a "multi-month rally to 1250-1300".
You are exactly right -- we are barely below the 20 month MA
and it wouldn't make sense to reverse that in a month. After
all, that is a major thing to conquer -- and it wasn't an "oops"
breach of that mark, the market came thundering down in August with
a purpose. Now the shorts get squeezed badly and bear market
over? And on the news front, is the Europe problem solved
through a few rumours? I haven't heard peep about Europe in
three days. Is it fixed? No more problems with the US
banks? My understanding of the Greek problem was that it was
imminently catastrophic.... not catastrophic in 3 months after a
nice rally to relieve bullish sentiment. Catastrophic now despite
public bearishness.
It just goes to show most Analyst/newsletter writer out there
sprout BS - it really doesn't matter what they say... they are
right as much as they are wrong 50/50. If you understand this game,
then anyone can be an Analyst!
good point in article -- $Hang Seng is closed this week.
These ramp jobs have happened while Europe has already closed
as well. On a sidenote: it isn't making sense the copper
bottomed the day the market did. And it hasn't been leading
this rally -- it is getting dragged along for the ride. Oh
well, I guess these things work until they don't.
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Good questions. i am seeing
The Big Picture...
Posted by kalinm on 7th of Oct 2011 at 12:32 am
Good questions. i am seeing lots of people calling a bottom and it seems almost unanimous (at least by the various sites i visit), that we have a "multi-month rally to 1250-1300". You are exactly right -- we are barely below the 20 month MA and it wouldn't make sense to reverse that in a month. After all, that is a major thing to conquer -- and it wasn't an "oops" breach of that mark, the market came thundering down in August with a purpose. Now the shorts get squeezed badly and bear market over? And on the news front, is the Europe problem solved through a few rumours? I haven't heard peep about Europe in three days. Is it fixed? No more problems with the US banks? My understanding of the Greek problem was that it was imminently catastrophic.... not catastrophic in 3 months after a nice rally to relieve bullish sentiment. Catastrophic now despite public bearishness.
man, how I would LOVE
Posted by marketguy on 7th of Oct 2011 at 07:38 am
man, how I would LOVE to see 1250-1300 (what a bloody "gift" that would be to short).....just don't think we'll get that lucky.....
I don't get it either
Posted by Michael on 7th of Oct 2011 at 07:23 am
A week ago everyone on earth was calling for S&P 700, now everywhere I look I see that there will be a two or three month rally.
It just goes to show
Posted by steve88 on 7th of Oct 2011 at 08:15 am
It just goes to show most Analyst/newsletter writer out there sprout BS - it really doesn't matter what they say... they are right as much as they are wrong 50/50. If you understand this game, then anyone can be an Analyst!
yep... you can call them ThrowDartsatMarket.com
Posted by zach06 on 7th of Oct 2011 at 08:24 am
IMF Advisor video
Posted by honzer on 7th of Oct 2011 at 12:40 am
http://www.zerohedge.com/news/bbc-does-it-again-absence-credible-plan-we-will-have-global-financial-meltdown-two-three-weeks-
good point in article --
Posted by kalinm on 7th of Oct 2011 at 12:48 am
good point in article -- $Hang Seng is closed this week. These ramp jobs have happened while Europe has already closed as well. On a sidenote: it isn't making sense the copper bottomed the day the market did. And it hasn't been leading this rally -- it is getting dragged along for the ride. Oh well, I guess these things work until they don't.