Posted by dbray740 on 11th of Sep 2008 at 01:47 pm
Keep in mind that bearishness alone doesn't make a rally. If
that were the case, there would be no bear markets. Most people
here are looking at the charts, which are quite bearish. If they
were bullish, most people here would be bullish. As Matt always
says, don't trade feelings - trade the charts!
Posted by dodgerdog on 11th of Sep 2008 at 01:47 pm
The Daily charts tell the story on the indices - until they
improve that's what we see. Certainly, the intraday charts
are better but within a strong downtrend. Thus, I prefer to
short rallies until things change.
Posted by dodgerdog on 11th of Sep 2008 at 02:02 pm
Me too delane - I hate to be negative but these clowns on Wall
Street and the lack of regulation, and the greed of speculators
created one heckuva bubble.
The sad thing is that many regular citizens are going to be
severly impacted by this debacle while many managers (and CEO's) on
Wall Street walked away with Millions in bonuses. I feel no
sympathy for BSC and LEH - they made their mess. I do feel
for some of their hard working employees.
SPX
Posted by saturn6 on 11th of Sep 2008 at 01:27 pm
Is it conceivable that with everyone expecting and positioned for the stock indices to go lower, it will do the opposite?
I note from the charts that the spx. dow. ndx. all ahve +ive divergences on the MACD and RSI.
Saturn - listen to CNBC
Posted by rgoodwin on 11th of Sep 2008 at 01:59 pm
Saturn - listen to CNBC - they all expect it is going higher - they called the bottom in July.
there is not universal bearishness.
Posted by Michael on 11th of Sep 2008 at 01:54 pm
there is not universal bearishness. Just this morning some guy on Bloomberg was advising people to start dollar averaging into stocks.
Keep in mind that bearishness
Posted by dbray740 on 11th of Sep 2008 at 01:47 pm
Keep in mind that bearishness alone doesn't make a rally. If that were the case, there would be no bear markets. Most people here are looking at the charts, which are quite bearish. If they were bullish, most people here would be bullish. As Matt always says, don't trade feelings - trade the charts!
bearishness
Posted by glennsexton on 11th of Sep 2008 at 01:41 pm
does seem to exude here
The charts also seem to
Posted by rgoodwin on 11th of Sep 2008 at 02:04 pm
The charts also seem to confirm it.
The Daily charts tell the
Posted by dodgerdog on 11th of Sep 2008 at 01:47 pm
The Daily charts tell the story on the indices - until they improve that's what we see. Certainly, the intraday charts are better but within a strong downtrend. Thus, I prefer to short rallies until things change.
SPX
Posted by saturn6 on 11th of Sep 2008 at 02:18 pm
Thanks for the replies,
I thought the dailys looked positive with the diverging indicators so was sceptical of a drop.
cant wait till the charts
Posted by delane on 11th of Sep 2008 at 01:56 pm
unhappy face, turns right side up...to a happy face :)
Me too delane - I
Posted by dodgerdog on 11th of Sep 2008 at 02:02 pm
Me too delane - I hate to be negative but these clowns on Wall Street and the lack of regulation, and the greed of speculators created one heckuva bubble.
The sad thing is that many regular citizens are going to be severly impacted by this debacle while many managers (and CEO's) on Wall Street walked away with Millions in bonuses. I feel no sympathy for BSC and LEH - they made their mess. I do feel for some of their hard working employees.
AIG is next... and u think
Posted by robbie on 11th of Sep 2008 at 02:04 pm
AIG is next...
and u think we issues over LEH...just watch