Dear Bulls, From the opening bell you took a stand, showing us bears a level of tenacity that is nothing short of inspiring. Bravo! So I'm willing to concede the remainder of the day to your herd. In fact, a continuation rally tomorrow (barring any slaughter by the closing bell) would not surprise me. But heed this advice: DO NOT HOLD LONG POSITIONS OVER THE WEEKEND! Monday morning and the whole of next week promises to be an excruciating experience for misguided bulls, who have yet to realize the futility of resistance in the midst of a market correction. Happy Trading! CalScholar
Cal, I could not agree with you more, for the next stop is the 1370-80 area and then we slide on down to 1350-60 where we may at last rest, at least for a while. (we tested 1380.87 today, now we will have to proceed on down to there once the "zero risk" boys tire.) I chuckle everytime i hear those idiot fund managers say "it appears the housing market has bottomed." Also, and curiously, the real impetus here is not a policy change in China -- though that may have served as a precipitating event -- the real impetus for this correction is a recognition, finally, that the US economy is cooling and the housing/sub-prime lending problem threatens to reach a crisis. The Chinese economy should continue to crank along just fine. So what if growth there "slows" from 10% per annum to 8.5%. We have some mighty fine intraday trading opportunities coming up. Three great big cheers for volatility.
Don't fail me now, Bulls. I'm expecting a sweet discount on shorts by tomorrow morning! Also, my long position could use an influx of buyers right now.
Is this the same message board on which Dow 16000 was actually considered a reality for 2007 by some folks ?:eek:
Why do people feel the need to create threads like this? Whether you're right or wrong, this type of arrogance will get you killed in the market -- at some point.
There are many good entry level jobs out there, kid. Focus on finishing up school and getting one of those.