Hello ... some of the people "selling" are going short (and have been the past few weeks). I'm seeing CD's at 5.25% ... that isn't gonna underperform relative to inflation.
you know what your right...its dumb to predict market action (no more stupid posts from me in this regard), just trade off the patterns you see now and forget yesterday or tommorrow after all if your a day trader it makes no sense to look at any timeframe other than the one your trading now.
Uh oh, one the perma bulls is negative now (krazykarl), here comes the bounce, 1300 or so seems like a nice round number to go to. If the bonds keep on going, i'll go out on a limb and say end of next week, then we can go lower again. Lets see how we close today.
good-old grimey.... the market is a freight train - i prefer to be a passenger, even a few cars back, as opposed to the cow on the tracks...
I will stick by my prediction, I very well could be dead wrong, if we take out 1250, I will be wrong. If we close lower today, it is an ominous sign for the future.. Either way, I will take it like a man.. My call is just that, I am about a mkt neutral as I can be at the moment. Have to admit to being extremely confused as to where we are headed, mkt will be maximum oversold by tuesday, so a bounce does seem logical, but I guess mkt can stay oversold for a long time too.
best quote i've ever read sums it up: "the market can stay irrational longer then you can stay liquid..."
I've gotta agree with Grimes on this. The same imbeciles who were screaming "100% up room" are going to serve as great contraindications for when we'll bounce. It just baffles me when the same people (over and over again) predict the continuation of such manifestly obvious current trends. "The trend is your friend" refers to identifying it in its early stages and not getting shaken off; not getting on at the end of a move to be caught in a reversal. With that said, I'll put my own neck out here: Anyone who bought gold at the most recent top will be out of the money for AT LEAST one year - probably much longer.
The object of trading is to make money, calling bounces 1 out of 10 times while losing money the other 9 is not going to make you money . That said, bounce seen ahead(but so what... )
And in the next 30 days we'll have another full moon. Agreed, we'll do 1284, but I've got 1291-1294 in same time frame. 1284 seems like a gim'me. Another 2-4 days of consolidation -and we're rollin'.
interesting, you think we need 2-4 more days...Big volume today, I still can't figure out what the bond was doing, but if commodities keep in correction/bail mode we could see 1285ish next week...just my 2 cents