Well, as stocks usually climb the wall of worry, they should climb straight to "da moon" today off that GDP report this morning. The .6 number shows us racing to a recession even faster than I thought, though. The Feds theory that business has started to spend more is ludicrous, in this environment. Lots of interesting resistance levels here, and possible reactions-should be a great day to trade-good trading to all.
Climbing the wall of worry
Started by
thespookyone
, May 31 2007 08:19 AM
3 replies to this topic
#2
OEXCHAOS
-
- Admin
- 22,024 posts
Mark S. Young
Posted 31 May 2007 - 08:45 AM
Well, as stocks usually climb the wall of worry, they should climb straight to "da moon" today off that GDP report this morning. The .6 number shows us racing to a recession even faster than I thought, though. The Feds theory that business has started to spend more is ludicrous, in this environment. Lots of interesting resistance levels here, and possible reactions-should be a great day to trade-good trading to all.
Slowing is Bullish. The Fed will pull the plug (or the impression will be that the Fed will pull the plug) if we heat up.
That said, I wish we were seeing greater signs of slowing. Nothing too dramatic, but less heat from China and India and perhaps a bit more price discipline being exerted on commods.
I'd say that the worst news for the market is good news for the economy right now.
Mark
Mark S Young
Wall Street Sentiment
Get a free trial here:
http://wallstreetsen...t.com/trial.htm
You can now follow me on twitter
#3
denleo
-
- Chartist
- 3,097 posts
Member
Posted 31 May 2007 - 08:58 AM
Economy is almost in recession and the FED says the biggest problem is inflation. The best possible condition for stocks. The only thing is missing is some international conflict and Gasoline above $4 to avoid down days this year.
Denleo
#4
jjc
-
- Traders-Talk User
- 2,886 posts
Member
Posted 31 May 2007 - 09:25 AM
Economy is almost in recession and the FED says the biggest problem is inflation. The best possible condition for stocks. The only thing is missing is some international conflict and Gasoline above $4 to avoid down days this year.
Denleo
My uninformed take:
The Institutions game:
get traders to short, and then squeeze, take profits and pull money out of harms way.
The FEDs game:
get traders to short, and then squeeze, rinse and repeat; Hope that this will eventually
fix the problems.
