What did I say in my previous post?

Will be back. All the bulls came out of the woodworks on a little gap up. Its incredible, isn't it? No capitulation volume, no fear spike.. low p/c ratio.. And all the usual bulls are back touting a 1000 point dow spike. These same bulls, mind you, who have been bullish since SPX 940 looking for 1000+, who've been WRONG the entire time as SPX plunged to 690. I post this as an observation more than market direction. It reminds me why the market moves lower. Its people who do this. I don't know what ego makes them think they know where the bottom is when they themselves know they have no skill in predicting the market. That's reflected in their account size growing smaller each day. I keep reminding them. DO YOU HAVE A RECORD? They never reply. Instead, they quote the phase of the moon, how bears are complacent without citing any hard data, etc etc while prices keep moving lower. If they lose money, its not because anyone forced them to. Its their own fault. I have no pity for them, but I find it tragic.

Edited by Rogerdodger, 04 March 2009 - 09:15 AM.

Its going to turn into 1929 all over again. Its just horrible. Markets lost what 80% in those worst times. What we need now are production cuts, a higher oil price on tax people, and down we go.........

Edited by Rogerdodger, 04 March 2009 - 09:18 AM.

fact is... if you did buy that "ugly" close yesterday... you're in a good position right now... below the mkt... waiting to see if the gap fills, and how it reacts afterwards.

fact is... if you did buy that "ugly" close yesterday... you're in a good position right now... below the mkt... waiting to see if the gap fills, and how it reacts afterwards.

For once I think this will be a Gap-n-Go day, UP all day and +300 points on the DOW by the close. Why? Because shorting these Gap ups has been easy money for too long. The short covering will feed on itself and drive the markets higher, for just a day and a half. I am looking to book some profits in CAT and BGU. Will continue to hold DIG because crude is going back to $50/barrel.

fact is... if you did buy that "ugly" close yesterday... you're in a good position right now... below the mkt... waiting to see if the gap fills, and how it reacts afterwards.

If I only had a nickle for every time I "could" have cashed out when I had profit...

Whats different about today than the other days, Asia, Europe and all other regions had nice up days today. Thats why we should have a nice day today for once. The other days they were down as well as us.

Its going to turn into 1929 all over again. Its just horrible. Markets lost what 80% in those worst times.


What we need now are production cuts, a higher oil price on tax people, and down we go.........

If I am not mistaken, from reading the Great Crash by John Kenneth Galbraith I think the total for all stocks was more like 93% which wouldn't account for companies that went bankrupt.

Edited by Xenophon, 04 March 2009 - 10:16 AM.