The deal is the market was already factoring horrible earnings expectations. Since the earnings came out less horrible than was factored in, the price went up. It is going to be interesting to see how the write downs that MER is going to have to report tomorrow will affect the markets which went to to a resistance level today. Will they surge past the resistance or will they drop back down to support?
Keep averaging into all those double short ETFs of yours. DUG EEV TWM and God knows what you're loading up on. It's great to short and pray isn't it? There's just no way the market can go up for a while from here now can it? Like in 1974, 1982, 1990, 1998, 2003. Nah, absolutely impossible.
think what you want to think, seems all bad new is pushed aside from a couple of earnings announcements that last maybe 1-2 days, then its back down again...Funny that you think this credit crisis is just a walk in the park, however its the biggest in history and you are ignoring it as if everything is all roses....the bottom is not in for this market, keep thinking that 115+ oil, high inflation, and a consumer that is totallllllly tapped out is going to create an ongoing bull market, the bull market is done with.....the consumer which makes up 2/3 of the GDP is COMPLETELY tapped out.....wait till $1 Trillion worth of credit card debt starts to create problems on the economy.......This is nothing more than a bear market rally. Keep buying if you must, see you back below 12k...
you have to be screwing with us. you've got nearly 2000 posts in about 4 years and you don't know that the stock market prices things in???
The beauty of being a "pundit" such as our resident guru "S2007S" is that he does not TRADE for a living . . . If he did, his "bias" would have carried him out on a stretcher when the market did not collapse after BSC went under.
Sold my TWM and my SKF last week buying TWM, FXP and more DUG tomorrow...... im not worried about this rally, im buying some inverse funds as early as tomorrow morning.....
Again, you obviously don't TRADE for a living. You simply make 40-50 posts per day on ET. How old are you? 26? Yawn.
Where do I say I think all is roses? All I said is I will never - regardless of how good/bad the news is - trade against the market. If we break through $SPX 1410/1420 in the monthly I am back being bullish and will increase long exposure in my directional trading while you will keep coming back explaining how bad the credit crisis is, how we can't go up forever and how consumers are tapped out. BLA BLA BLA!
mkt gets oversold s&p rallies 30 handles in a day....mkt gets overbought s&p drops 30 handles in a week, and were right back to where we started. this is the same song and dance we've been seeing since november. until the mkt breaks out either way, I wouldn't get too excited.
Leave it to you to continue trying to short oil and gas ( buying DUG ) all the way up. Ever heard how the "Trend is Your Friend"??? Guess not.