i love a good war. almost like this was scripted eh? wait, damn tin foil getting in the way. those cheers were great. maybe all those brokers are worth their ridiculous bonuses, eh? im gibbering again, sorry. best wishes.
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Wow!!!
i love a good war. almost like this was scripted eh? wait, damn tin foil getting in the way. those cheers were great. maybe all those brokers are worth their ridiculous bonuses, eh? im gibbering again, sorry. best wishes.
I am seriously inclined to bet on you being correct. 10% down mark on the DJIA and the market runs up. Capitulation? Could very well be. Plus I like the recovery on the dollar/yen right around the same time. The FOMC using open market ops tells me they have started to move away from their inflation bias and maybe they get it enough to cut rates next meeting. We'll see.
These last few sessions have been pretty wild though. Been a mix of pain and pleasure, but fascinating to be in.
I'm looking to put some money in tomorrow. But yeah it was absolutely crazy today. The market had hundred point swings in minutes all day. I wonder what the total number on the points on the dow is if you added up all the fluctuations.....
agreed aiki, capitulation is at least as equally plausible. i still stand by dow 15k by year end, so i suppose im also bullish in temperament. the greatest runs have the biggest sell offs. i fully expect to see a gap up tomorrow and a nice maybe few days of rally. i also expect the march lows to be retested, maybe broken before 15k. tread lightly, or be prepared to be carted off on a stretcher. i think these last few weeks will be written about in future books. best wishes.
Is it just me or I'm missing something. We are bailing out these mortgage companies and if you think about it they are actually getting paid twice. They now own the property what they do with it well...... and now there getting more money on top of it. I guess we are paying for this over and over. Why not just give the people the money not to loose their house. Some things are just simple and not made to be complicated where others can't understand
I had a headache all morning after I saw how bad things were going. The only thing working were the puts on Countrywide. In a lot of ways, I almost broke mentally. When I saw the Indexes heading higher, I had this really strong feeling that we were at some sort of inflection point. I'm starting to feel a little bullish again after all these weeks.
10% correction and it's all good now? All of the worries that created the sell-off have suddenly disappeared? The Street suddenly follows a script; 10% drop = safe to buy again, especially if the msm bandies the term 'capitulation' about? I seem to remember something about the market humbling those whom think they have her figured out. As one of our long time posters put it; zombie feline oscillation, takes a very long time for the hedgies to unwind their positions and we are nearing the end of the season for oil and aren't likely to be saved by the energy sector again.
The trend is still down as far as I can see, just like the futures this morning. Lovely traders market, but long term bargain buys are risky imo, 1380 support was broken yesterday and it should be retested several times, just as the 1450 area was a couple of weeks back.
My biggest completely unscientific indicator; daytraders and swingtraders aren't even worried yet, to wit; I was at the dealership a couple of days ago for some warranty work and I was watching the market action on my laptop when an Asian couple walked in and were talking rather loudly in their native tongue about Countrywide, Goldman, VMWare etc, etc and the husband was talking about a straddle on GS among other things. Then the next day I was at TJ Maxx shopping and overheard a woman on her cell talking to a friend about some stocks and she was quite chipper and laughing. Seems like there are a lot of 'non-professionals' still happily trading this market, perhaps because CNBC says all we need is a 10% correction and then everything will be alright.
