At least it's a gradual selloff

Discussion in 'Trading' started by crgarcia, Jun 7, 2007.

  1. And not a panic selloff!

    Still, I'm not bearish, and, since I never invest against the main trend, now I'm in the sidelines.

    Patience is golden in the stock market.
    Go out, enjoy the fair weather.
  2. Right on. Check the NYSE Trin today vs yesterday. It barely budged. The party isn't over yet but the indices will make a lower low - maybe tomorrow.

  3. Mvic


    Suggests that there is more selling to be done. If we had seen some panic today it would have possibly signaled a bottom for the dip, instead this orderly selling is bearish. A panic sell off is where you think about covering when you are short, but with market internals so bad all day and closing on the lows suggests more of the same in the am.
  4. gam1111


    Not over til the fat lady sings!

    Earlier they were talking about fed cutting now they talking about fed raising. Always a scary scenario, reminds me of '05.

    One things for sure, global rates are rising, global equities are experiencing sell offs.

    The level of complacency is scary. I think the market is going much lower very fast!
  5. gam1111


    Market in usual summer bear mode. Expect total 10% correction from s&p 1540
  6. At least people aren't jumping off of buildings
  7. Why would they? :p Look at the charts, so far we've barely budged. I figure people will only start getting killed when we're down 20, 30, 40%. Not quite there yet.
  8. Looking for "panic" as a counter indicator IMO works best after a longer down move which often sees its final move in a final day of selling off heavily on big volume. Too early in this move to look for panic IMO. People aren't nearly hurt enough, most long books will be nicely in the green YTD still.
  9. Study the big drops --- what percentage of them didn't have a lower high before they got really serious?
  10. good point
    #10     Jun 8, 2007