Looking at the ER2, these kinds of last hour, abrupt rallies up from lows after being down all day don't seem to be portend much. The rapid jerks upward suggest to me that there are some short-covering stops being taken out on the way up, but there must be more to it than just that. Someone else here suggested it might be program buying by hedge funds. I really don't know, other than it does not look like typical price movement from "normal" trading activity, but i do know that we should not read to much into these last hour thrusts upward. Who knows what tomorrow will bring?
I agree, its just that in the past I have seen these type of moves that tend to last into the next day, im not saying the dow is ready for a bounce, but I would put it at 75% chance or better that the markets have a nice bounce tomorrow.
I am betting we finish the year right where it started. AND the $$$ will rebound! overnight rate hike from ECB, Japan, and US....LOL. J/K. The currency situation is really messed up though.
Still sticking with 15000 dow The fact that we rebounded so strong into the close indicates there is sill strength in spite of the gloomy headlines. The cheap dollar will ensure tons of revenue and growth for 2008.
Maybe. Everyone with half a brain would take profit on the way overpriced mo stocks, like your entire index for example, and find the beat down cheap ones. Not good for the ol' turder-dex.
I imagine you wake up in the morning and draw up the day's chart so the market can trade according to it.
You clearly have no idea what you're talking about. Can you explain to us mere traders, since you seem to know eveything, you must have forseen this fall from 14200 to 13100 in the last weeks. Since you foresaw this why did u advise people to buybuybuy? If you knew this why didn't you short into it and earn US$5000 per YM? I'm not claiming to know everything but even I could see there was money to the short side to be earned. Why did you decide, fully well knowing that a 1100 point decline was coming, stay long and not only forfeit a potential US$5000 per contract, but even willingly and knowingly accept a loss of US$5000 per contract? Why would anyone taking trading seriously do such a seemingly stupid thing? I mean, since you knew it would happen..... Frankly, I don't expect an answer. And I think I know it already. You are not a serious trader, you don't even trade for real, just paper. You don't know everything, you know nothing.