Is this a bear market rally??? Hmmmm, seems all the talking heads think that this is the continuation of a bull market that never was a bear market to begin with, however I tend to disagree, I think this a bear market rally and that the markets are not clearly out of a downward trend. You can think otherwise, but how many times can the federal reserve stimulate the market to the upside??? They are running out of ways to prop the market back up, how many times can you cut rates and "PROP" up the markets with liquidity injections and rebate checks, its getting old. If the market wasnt PROPPED up by all these liquidity pumps I would acknowledge that just maybe the markets could clearly break to the upside. There isnt any catalyst left for this market, the bulls can try and find one, but rate cuts and free money isnt it....they say money doesnt grow on trees, well on wallstreet IT CERTAINLY FU$KING DOES.....remember that....
You sound incredibly "bitter". The SPX has rallied 13% since march 17th. Sorry you fought it the entire way. Your post certainly sounds very bitter.
The indices are getting a little too pumped here. I would love to see a huge blow off to the upside next week to get some great shorts on. I think after next week, we are going to see a test of the lows into June. I'm not ready to short yet, still a buyer until late next week.
Don't lose sight of reality. The recession is just getting underway. The Feds actions will moderate the effect on the market, but the economy overall is going down the drain. We are experiencing the coriolus effect at the moment. We won't make it to the grease trap for some time, then its out to the sewage treatment facility and eventually into the Mississippi. In the meantime we should just enjoy what the market gives us. And remember the talking heads take their cue from Wall Street, and Wall Street's job is to keep the pigeons in the dark. Who do you think is a more reliable estimator of the economic future. Kudlow and some twenty-something fund manager, and Hedgefuntrader, or those who have been around the block a few times, e.g., Buffet and company. Get a grip on reality here folks. Granted the worst of the news in the financial/banking/broker sectors is likely out, but earnings will not rocket back overnight. And its's absurd to think that cumbersome sectors like real estate can rebound on a timescale other than years. We have layoffs, stagnant wages, runaway inflation, negligible savings, towering debt that continues to grow unabated, and currency as weak as it has been in our lifetimes. And don't lose sight of the eventual, and unavoidable, increases in interest rates coming down the road. None of those things bodes well for the economy in the next few years. The borrowed funny money being sent out is just to keep the unwashed masses quiet until after the election. Finally, don't lose sight of that fact that the US economy, while still remarkably strong and resilient, is the economy of a nation on the downward slope. But comfort yourselves in the knowledge that great countries and institutions often take centuries to disintegrate. (Although we are doing our level best to accelerate the process.) What do you care, you are traders, and you shall get rich regardless of the market or the economy. Enjoy the summer rally! P.S. I do hope all this "bitterness" does not drive me to guns and religion.
Feds will never run out of options, but you will run out of account value to trade again. That looks like the case. Fed sponsored rallies will rage till you turn blue and kill yourself in a hussy fit. The Bulls are back and this a clear cut Bull market that had fallen prey to your kind for the first 3 months and look what you did to it....destroyed every chart out there.
You sound like a prefect loser. Here is some Technical Analysis courtesy S & P Marketscope, please read it and kill yourself, rather hang yourself with a Home Depot suicide kit. "All three major indexes have now broken above their respective downward sloping trend lines from their October highs. (See 4/29/08 commentary for these trend line resistances.) The breakout of a down trend line coupled with bullish long term MACD readings point to higher stocks prices in the next several months. However, in the short term, many technical indicators (stochastic, RSI, % of stocks above 50 day MA, etc.) point to an extended overbought condition. Todayâs intraday reversal could be a first sign of a near term retreat. In addition, sentiment may have turned too bullish too soon. The Investors Intelligence bullish advisor reading moved up into the neutral zone at 40.9% this week and the fear gauge VIX is now near the low at last Octoberâs market top. Please tighten stops to protect your recent gains." Do we see 1450 on SPX ?
These per ma bears need to go back to their caves and hibernate rest of the year. There is not much to eat. They will be killed by Bullish investors running around with high powered rifles in this financial jungle...
we were never in a bear market. a bear market is defined as a closing down of 20% or more from all time highs which we never did on the dow or s@p.