Edited by trioderob, 28 October 2008 - 02:55 PM.
who here is still ultra bearish ?
Started by
trioderob
, Oct 28 2008 02:48 PM
13 replies to this topic
#1
trioderob
-
- Traders-Talk User
- 1,337 posts
Member
Posted 28 October 2008 - 02:48 PM
if you think this market is headed down
now is the time to state it !
anyone think we are still headed to a 61.80% fib retracement on spx ?
that would put the low at about 665
yesterday I asked 10 average people if they would buy stocks now
all 10 said "no way" its going down
#2
cgnx
-
- Traders-Talk User
- 2,103 posts
Member
Posted 28 October 2008 - 02:52 PM
I've been a bear for so many years, I don't know how to be a bull. It feels kinda good. I'm just a price bull and value bull. I guess what other kinda bull is there. Growth bull? NOT That can come later. We might make alot of money really quick.
If it can be cornered, it will.
#3
traderpaul
-
- Traders-Talk User
- 6,034 posts
Member
Posted 28 October 2008 - 02:57 PM
if you think this market is headed down
now is the time to state it !
anyone think we are still headed to a 61.80% fib retracement on spx ?
that would put the low at about 665
Every John, Harry and James is waiting for Bus 665.....Bus 665 took a detour to the north...
"Inflation is taking place now. Prices may not appear to be rising because they are making packaging smaller. "— Rickoshay
#4
StillLearnin
-
- Traders-Talk User
- 1,200 posts
Member
Posted 28 October 2008 - 02:58 PM
I will go on the record and say I don't think the bottom is in. I think we are in an ending diagonal and have one more low to make. Above spx 960 this is wrong.
Those white lines were on there last week
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=1&dy=10&i=p15276636743&a=130680931&r=8451.png
Those white lines were on there last week
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=1&dy=10&i=p15276636743&a=130680931&r=8451.png
#5
qqqqtrdr
-
- Traders-Talk User
- 3,251 posts
Member
Posted 28 October 2008 - 03:03 PM
I'm a bear at heart, but I play statistics. With a variety of charts we are oversold and I am looking for a multiweek rally. Anyone who uses market statistics and leading indicators would be bullish for the short term... We have positive divergences, and in the past we have a 75% of a good rebound to put in a excellent bottom here. Knowing the market, one would just play long at this point until the 50-day or 200-day MA are reached, and once these limits are reached, place your hedges on market direction.......
Barry
#6
cgnx
-
- Traders-Talk User
- 2,103 posts
Member
Posted 28 October 2008 - 03:03 PM
Cmon, look at that macd liftoff. SWEEEEET. HUGE GAP IN THE AM
If it can be cornered, it will.
#7
ed rader
-
- Traders-Talk User
- 2,390 posts
Member
Posted 28 October 2008 - 03:04 PM
i don't think this is the final low either.
ed rader
#8
skyymaster
-
- Traders-Talk User
- 1,443 posts
Member
Posted 28 October 2008 - 03:31 PM
2002 LOWS WILL BE TESTED and BROKEN 
We are not in a Bull Market and No Bull is about to begin. Financials did squat with this 900 point move up.
The only sector that is making some real money is energy. The question you should be asking yourself is are we in a deflation mode or inflation mode. If you are a bull you better hope that Fed can pull this off by printing their arses off because the alternative is not good.
Let's not get tickled pink, let the uptrend prove itself.
We are not in a Bull Market and No Bull is about to begin. Financials did squat with this 900 point move up.
The only sector that is making some real money is energy. The question you should be asking yourself is are we in a deflation mode or inflation mode. If you are a bull you better hope that Fed can pull this off by printing their arses off because the alternative is not good.
Let's not get tickled pink, let the uptrend prove itself.
People should not be afraid of their governments. Governments should be afraid of their people.
Remember this day, men, for it will be yours for all time.
Remember this day, men, for it will be yours for all time.
#9
qqqqtrdr
-
- Traders-Talk User
- 3,251 posts
Member
Posted 28 October 2008 - 03:49 PM
One day does not make a trend, we can GAP up tomorrow and financials can drive it. This move was not of great breadth, but it could be a first day of a larger rally, or just a one day wonder to suck people in. I'm hopeful for the first. We have had better medium divergence on this large upswing versus the previous one. It will take at least a week of trading with better volume to know that we have reached a bottom. By that time we could be 20% higher.....
Barry
#10
StillLearnin
-
- Traders-Talk User
- 1,200 posts
Member
Posted 28 October 2008 - 04:03 PM
I am off for vacation again tonight. London this time. Be back for next Tuesday's market. Will have very little time if any to check in while I am over there. You guys and girls have fun. I have a larger order for QLD about 5% below the most recent lows. If we hit it great. If not I am still 80% cash (swing trade account). See yallll
SL
