From 108 to 128 in almost 3 weeks. Took out every possible
resistance that everyone has drawn till now, Except for the down
trend line from the tops...
Not even a single good pull back, Euro rallied almost 1200pips
from bottom, Vix to shed....Is this a bear market rally OR a next
leg up?
I think there is a good possibility that we may have bottomed.
Reason- the financials testing 2009 lows and most of the rest
of the market testing 2010 lows. On the other hand, I cannot
see a lot of upside potential in this environment. Therefore, I am
not willing to put my 3 month money (money that I am unable
to move as I wish) anywhere except cash. We still need
clarity and it's not there. In the mean time, with money I
can easily manipulate, I am playing heavily in the direction that
the market is moving. When it changes so will I.
we are going lower... while they are BUYING!!
Best method.. do the opposite of the IDIOTS on CNBC
and BLoomberg. Did you guys notice the NEW GANG OF 6
DOOM AND GLOOM today??
performance...probably next week consolidate...down to
sideways... and going into the last 2 weeks of option expiration..
everyone will start feeling "happy" cause Turkey day is coming
up.... cause if these Market Makers don't make enough.. they
can't afford the GI Joe Doll with the Kung foo grip
Look at the dollar. If we were in a bear market it would not be
tanking and breaking all kinds of support and trendlines. Being
short is suicidal in this enviroment. I have been adding to longs
since 10/4 and I am no where near as smart as most of you guys on
this site. Just seemed obvious to me.
Posted by marketguy on 27th of Oct 2011 at 01:36 pm
BPT "used" to talk about this way back in 2009 saying that the
goal of a bear mkt rally is to fool everyone into thinking that a
new BULL mkt has started and that the bear is truly dead....
Posted by marketguy on 27th of Oct 2011 at 01:54 pm
thus the overshoot....but who the frick knows...I'll probably be
COMPLETELY WRONG as usual....as it sure is looking that way at the
moment....story of my sick life......
Posted by marketguy on 27th of Oct 2011 at 01:30 pm
bear mkt rally (imho)....many lines I've posted are just coming
into play today (or are approaching quickly)....could be an
overshoot to the upside but I'm too stupid to wait.....
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Seriously what do u guys think
Posted by dkimm on 27th of Oct 2011 at 01:28 pm
About this current move?
From 108 to 128 in almost 3 weeks. Took out every possible resistance that everyone has drawn till now, Except for the down trend line from the tops...
Not even a single good pull back, Euro rallied almost 1200pips from bottom, Vix to shed....Is this a bear market rally OR a next leg up?
OK. You asked.
Posted by johnc on 27th of Oct 2011 at 01:54 pm
I think there is a good possibility that we may have bottomed. Reason- the financials testing 2009 lows and most of the rest of the market testing 2010 lows. On the other hand, I cannot see a lot of upside potential in this environment. Therefore, I am not willing to put my 3 month money (money that I am unable to move as I wish) anywhere except cash. We still need clarity and it's not there. In the mean time, with money I can easily manipulate, I am playing heavily in the direction that the market is moving. When it changes so will I.
Without questioning equity strength today, one warning sign on the EU deal
Posted by lessarda on 27th of Oct 2011 at 01:58 pm
is that the credit spreads of the PIIGS & France haven't come in all that much.
another way you know you bottomed.. it that every IDIOT on CNBC says
Posted by zach06 on 27th of Oct 2011 at 01:57 pm
we are going lower... while they are BUYING!! Best method.. do the opposite of the IDIOTS on CNBC and BLoomberg. Did you guys notice the NEW GANG OF 6 DOOM AND GLOOM today??
its the end of the month... these guys are going to have to chase
Posted by zach06 on 27th of Oct 2011 at 01:32 pm
performance...probably next week consolidate...down to sideways... and going into the last 2 weeks of option expiration.. everyone will start feeling "happy" cause Turkey day is coming up.... cause if these Market Makers don't make enough.. they can't afford the GI Joe Doll with the Kung foo grip
Dollar is the key people!!!
Posted by tomW1 on 27th of Oct 2011 at 01:31 pm
Look at the dollar. If we were in a bear market it would not be tanking and breaking all kinds of support and trendlines. Being short is suicidal in this enviroment. I have been adding to longs since 10/4 and I am no where near as smart as most of you guys on this site. Just seemed obvious to me.
BPT "used" to talk about
Posted by marketguy on 27th of Oct 2011 at 01:36 pm
BPT "used" to talk about this way back in 2009 saying that the goal of a bear mkt rally is to fool everyone into thinking that a new BULL mkt has started and that the bear is truly dead....
I'd judge that we may be there.....
Or could it be that....
Posted by alba on 27th of Oct 2011 at 01:52 pm
everyone thinks that this is the ideal place to short and it keeps going???
thus the overshoot....but who the
Posted by marketguy on 27th of Oct 2011 at 01:54 pm
thus the overshoot....but who the frick knows...I'll probably be COMPLETELY WRONG as usual....as it sure is looking that way at the moment....story of my sick life......
IF that is the case... Just follow Prechter and keep shorting.
Posted by zach06 on 27th of Oct 2011 at 01:38 pm
Keep averaging in... as long as you can stay solvent.... eventually you will be profitable.. good luck
ironically that works! - as
Posted by Palladin on 27th of Oct 2011 at 01:55 pm
ironically that works! - as long as you CAN stay solvent and used as hedging. Money begets money - easy to make more if you got lots of it!
bear mkt rally (imho)....many lines
Posted by marketguy on 27th of Oct 2011 at 01:30 pm
bear mkt rally (imho)....many lines I've posted are just coming into play today (or are approaching quickly)....could be an overshoot to the upside but I'm too stupid to wait.....