I am really starting to conform to the bullish stance. Over the past several days oil, gas, etcc has been up. Today the IRAN-British episode but yet everyone likes to dismiss these events. Everything is a buy. ALthough one housing number comes in of the charts. Anyway I know I complain about "manipulated markets, PPT, etc but this is something I have never seen and I've been trading over 15 yrs. Nothing seems to make sense. Please someone explain this to me or am I just completely out of the game.
You have to filter our the noise if you intend to go long in any market. When there is a breaking story (subprime fallout, Iran, petfood recall, etc) you have to ask yourself: 1. Will this affect the profits and earnings of major companies? 2. What is the scope of the event? Does it affect many companies and industries or just a few?
your noticing it toooooo. hmmm.... seems like the market isnt reacting to any such news. Im thinking 65-70 oil takes the DOW to 13,000+, why not.