You guys have got to be.............

pulling my leg. I can't imagine your really short this market here. I mean what kind of TA supports your position? Or what kind of valuation metric are you using? The next closest metric for valuation is The Great Depression. So if your betting on that, I can't even imagine the odds. So I have to believe your just trying to mislead people. Don't listen folks. This is 1 of the greatest opportunities I've ever witnessed. I did miss the 74 low because I was only 12. I was broke too. My question is, What stocks do you think or sector, will be the biggest gainers short term? That should be the focus. Leadership.

Jeezee. Already broke by the age of 12 and you're telling people how to invest?

From a multiyear perspective its a great time. Buy some stocks, come back in 20 years and you'll be glad you did. From a trading point of view (this is a trader's forum, right?) its a little bit trickier. mm

If one is investing for a multi year perspective, one should probably contain themselves until at least the 50 turns up, maybe even the 200.

If one is investing for a multi year perspective, one should probably contain themselves until at least the 50 turns up, maybe even the 200.

True.

We may eventually have some kind of mid-term bottom and a bounce, but keep in mind it may very well turn out as a sideways consolidation with little in price gain (a triangle). And it is a counter trend trade to the Long Term trend is solidly pointing down so the larger forces are working against you, like swimming up the river.

Hello All...... My question for those who want to short at this point on a short to medium term basis, is what statistics are you looking at that make you think we will head lower from here. We have lots of liquidity and low interest rates. The market seems to be at a bottom with 5 waves down of third leg. I would say we are still in a downtrend on the 60 minute, daily, and weekly charts of the indicies, and a recession is already priced into the market. We have plenty of money on the sidelines that is looking for an opportune time to come into the market..... Why isn't that time now??? Barry

Barry-I don't feel the 5 of 3 is in, lots of individual stocks will confirm that for you, as well. Also the reason not to buy now, imho, is lack of confirmation. The BEGINNING of such confirmation to me would be the MCO's exceeding their highs of 10/20 with price in a similar location. So far, you have a snap back rally back to and a bit above the zero line on tiny trin that smacks of short covering-nothing more. Look at the MCSUMS-TOAST, . Breadth leads price, and it has given no confirmation of price any higher than the 1044 we saw, it has however given two lower targets when it broke down that have yet to be reached. So why not here?=The risk exceeds the possible reward, plain and simple. If you think a huge rally is about to ensue-can you not afford to wait? Breadth fell apart the last 20 minutes today and tourched the market, more of the same to come.

Edited by thespookyone, 29 October 2008 - 05:48 PM.

I closed longs today about three forty five. Had ultra QLD. Took position on Monday. I seems a little late to get real short here but I am sure it will be lower at some point tomorrow. I am itiching to get long with long term money but willing to wait a little longer. Trading look at QQQQ and SPX chart. Both right on 20 day MA SPX right on down trend line from around October 1. Fed could have done nothing and said the lag from the money we have been putting in is taking on now. Instead the said we are paniced and have no idea what to do so we will try this. If this market makes it through elections with no extraneous event causing a one day DOW down 1500 event then the bottom has held and I will not wait for the 50 day MA because it is pretty far from here. If it does I will be in there buying at 1200 down. Ultra market and XLF and BBH and maybe IYR and maybe GDX.

Barry-I don't feel the 5 of 3 is in, lots of individual stocks will confirm that for you, as well. Also the reason not to buy now, imho, is lack of confirmation. The BEGINNING of such confirmation to me would be the MCO's exceeding their highs of 10/20 with price in a similar location. So far, you have a snap back rally back to and a bit above the zero line on tiny trin that smacks of short covering-nothing more. Look at the MCSUMS-TOAST, . Breadth leads price, and it has given no confirmation of price any higher than the 1044 we saw, it has however given two lower targets when it broke down that have yet to be reached. So why not here?=The risk exceeds the possible reward, plain and simple. If you think a huge rally is about to ensue-can you not afford to wait? Breadth fell apart the last 20 minutes today and tourched the market, more of the same to come.

I'm looking on average 5 to 3 in favor of advancers today. It seems like a consolidation phase today. Yes the last 20 minutes of trading down was a scare to me, but we are not yet to the point where we will test the bottom range again of the market. Looking at the charts it appears we have already tested the bottom three times which is indicative of a triple bottom. However, each high has been at a lower level so far, so we have yet to confirm. I also take a look at all the money on the sidelines looking to go somewhere. I believe if we start a move a little higher like 5% higher the market will take off, and people will be jumping to get in. I am thinking we are close......

I also have seen positive divergences on McClellan indicating the breadth is already leading price....

Barry