thats the way it feels right now...we are working off the overbought status by marking time and the nq's are strong
2-3 more days of choppiness with slight downside
Started by
atlasshrugged
, Jan 08 2009 04:05 PM
8 replies to this topic
#2
eminimee
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I don't care who's fur is flying...
Posted 08 January 2009 - 05:19 PM
hmmm..and yet again we close spx above the 8wema....not that it means a dammmn thing...
dammmmmn it....edit f.ck...but don't chose my words...this board is becoming a totalitarian regime.
Edited by Teaparty, 08 January 2009 - 05:21 PM.
#3
tommyt
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Posted 08 January 2009 - 08:59 PM
thats the way it feels right now...we are working off the overbought status by marking time
marking time? yesterday wasnt exactly marking time...today was a rest day before the big number tomorrow...we'll see.
#4
dasein
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Posted 08 January 2009 - 09:50 PM
weekend is the full moon, next week is opex, and we havent really moved much. maybe there will be another directional breakout to play -it looks to me we need a retrace up in bonds and USD, so it could be down, sentiment is pretty high on fumes, too. This other little war is getting messier, too, but it is still too early for the retailers to fall one by one.
klh
best,
klh
klh
#5
danzman
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Posted 08 January 2009 - 10:09 PM
My COT work says that the short from Wednesday morning should be
held until next Wednesday. Cover at the open. Great odds, great
profit factor. Let's see what happens...
D
I don't make predictions, I just react.
#6
thespookyone
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Posted 08 January 2009 - 11:13 PM
Small point change in the NYSE MCO today-we are going to do more than chop-within 2 days.
#7
nimblebear
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Welcome to the Dark Side !
Posted 08 January 2009 - 11:29 PM
thats the way it feels right now...we are working off the overbought status by marking time and the nq's are strong
I hope you are right. For more reasons than one. Hope is not a strategy in trading, but if this thing falls apart, the alternative to chopiness and / or up could be very darn ugly.
for the country's sake, i dont want ugly.
OTIS.
#8
dasein
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Posted 08 January 2009 - 11:37 PM
for the country's sake, i dont want ugly.
What ever do you mean? money can prop the market or it can go to productive enterprise, there isnt enough for everything, unless the printing presses go berserk and the dollar goes to nothing - i believe you once said. ugly is guaranteed, it is only a question of timing and who gets the worst end of the stick. a bull market is not a matter of patriotism.
best,
klh
klh
#9
salsabob
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Posted 08 January 2009 - 11:56 PM
It will be again, when every dollar can be soaked up into assets that produce high value with near-desperate demand - imagine an extended period without building asset inflation bubbles. We'll be on the exponential segment of Schumpeter's curve and making ourselves again the envy of the world. Problem is, that will be in the late 20-teens/early 2020s. Although, like in 1941, an 'external stimulus' could come along to hasten the "matter of patriotism" a lot faster, but that does have its downsides.-- a bull market is not a matter of patriotism.
John Galt shrugged, outsourced to Red China and opened a hedge fund for unregulated securitized credit derivatives.
If the world didn't suck, wouldn't we all just fly off?
If the world didn't suck, wouldn't we all just fly off?
