At this hour, I think the market has bottomed for the day. It's a great buying opportunity for the bulls. Break For the bears, FXI (China) & INP (India) are deep in the hole. If the SPX finishes red again, I think this downleg is for real. YEA BABY !!
You can tell how bad those who are short are hurting by how cheery they get with such a minute drop. I mean 35 points down in the Dow has all the bears out saying "here it comes!" And not just on this site, either.
Ivan, you may be right about this. My hope is on Fed. Bears pay taxes just like everybody else. About time Fed did something for the bears.
Bears bring lower stock prices. That yields a whole host of other negatives the economical misfits of this government aren't prepared to accept. No, bears will get their day when the government can no longer manipulate.
isn't that better said : bears will get their day when the SYSTEM does no longer WANT to manipulate ....
If you prefer, sure. The other way to look at this is this way: No one is going to risk selling because they've been burnt (or watched others get burned) each time. That's probably why you only see volume pick up as the selling intensifies. So you have to wait until the big boys start the selling waterfall. And they're not about to do it until they're done pushing it up (on no volume, because no one wants to buy at these levels). So the path of least resistance (a slow, no-volume, algo driven churn upwards) is the most likely scenario. So we either need the big boys to change their tune (unlikely) or a catalyst of epic proportions.
Yup, we'll I don't trade on gut feeling. Sorry to disappoint you. Also, you quoted Prechter. Was that a joke or something because I missed it if it was?