IMO, its because adding CSCO and TRV to the DJIA requires index
followers to sell the 30 to buy the two, in a rebalance trade. So
the market was down until the rebalance was finished.
Still I think this is all top building. They keep runnin the
shorts, like last Friday. EVERYONE expects SP 1000 or even
1100. Too many. Nobody is short; when I talk to people about
what they are shorting I get a dumbfounded expression. The Fat Lady
is clearing her throat.......
how many of you guys, gals are short here? Ask yourselves what
you're feeling - maybe complacent about the downside perhaps?
What I'm feeling is that I shouldn't show up until the last
thirty minutes of trading and trade opposite to whatever we
were doing until 3:15. So psychologically, (and I just
finished a book about the psychology of trading over the weekend),
my frustration level is high so the top is probably very close to
being in. Did I get it right?
sidestep the action....watch for a top.....the blow off.....then
you can put on very objective tactical shorts.....or longs.....this
is war......kill enemy with 1 bullet better than throwing rocks at
the enemy......
Know thyself, grasshoppa! We are all our own worst enemy when it
comes to trading, that's why we need a methodology you can
stick to.
All I know is, very few are short; and the top always coincides
with the majority long and the tiny minority short. The market is
running in the few willing to short; yet, guess what, the S&P
is not meaningfully baove its Jan 6th high despite trying to launch
for 4 weeks now...... That's a sign of distribution, IMO
Posted by junkmaylbox on 9th of Jun 2009 at 12:01 am
200MA normally cap bear market rallies. It's a good area to
short, if one could stand volutility and the market's temporarily
goes against one. No ultra shorts at this point, please! Greed
ruins portfolios more than it builds them, on average.
Hey whats gives? whats the news?
Posted by johnc4b13 on 8th of Jun 2009 at 03:36 pm
IMO, its because adding CSCO
Posted by PA on 8th of Jun 2009 at 03:43 pm
IMO, its because adding CSCO and TRV to the DJIA requires index followers to sell the 30 to buy the two, in a rebalance trade. So the market was down until the rebalance was finished.
Still I think this is all top building. They keep runnin the shorts, like last Friday. EVERYONE expects SP 1000 or even 1100. Too many. Nobody is short; when I talk to people about what they are shorting I get a dumbfounded expression. The Fat Lady is clearing her throat.......
how many of you guys, gals are short here? Ask yourselves what you're feeling - maybe complacent about the downside perhaps?
What I'm feeling is that
Posted by Peridot on 8th of Jun 2009 at 03:51 pm
What I'm feeling is that I shouldn't show up until the last thirty minutes of trading and trade opposite to whatever we were doing until 3:15. So psychologically, (and I just finished a book about the psychology of trading over the weekend), my frustration level is high so the top is probably very close to being in. Did I get it right?
Title: Sounds right to me You
Posted by dallassteve on 8th of Jun 2009 at 04:20 pm
You have company! I keep assuring myself that when the downturn begins, we will all make fortunes shorting the market!
sidestep the action....watch for a
Posted by siewyin on 8th of Jun 2009 at 03:59 pm
sidestep the action....watch for a top.....the blow off.....then you can put on very objective tactical shorts.....or longs.....this is war......kill enemy with 1 bullet better than throwing rocks at the enemy......
Only kidding guys. p.
Posted by Peridot on 8th of Jun 2009 at 04:06 pm
Only kidding guys. p.
Know thyself, grasshoppa! We are
Posted by PA on 8th of Jun 2009 at 03:58 pm
Know thyself, grasshoppa! We are all our own worst enemy when it comes to trading, that's why we need a methodology you can stick to.
All I know is, very few are short; and the top always coincides with the majority long and the tiny minority short. The market is running in the few willing to short; yet, guess what, the S&P is not meaningfully baove its Jan 6th high despite trying to launch for 4 weeks now...... That's a sign of distribution, IMO
200MA normally cap bear market
Posted by junkmaylbox on 9th of Jun 2009 at 12:01 am
200MA normally cap bear market rallies. It's a good area to short, if one could stand volutility and the market's temporarily goes against one. No ultra shorts at this point, please! Greed ruins portfolios more than it builds them, on average.
lol... someone decided recession will
Posted by gan_ on 8th of Jun 2009 at 03:37 pm
lol... someone decided recession will be over this summer!