you are right. trading and analysing/ projections are two seperate endeavors. best wishes to you. good points, surfer
Fascinating surf!! So he's wrong? On what time frame? With the VXN at levels only seen on late March 2002 and the VIX at levels on early June 2002 ... you believe the market will go up? Well, it doesn't really matter what we put up on these boards (the market is the market after all) but put me down for a significant top being carved right now. Lets revisit this thread in 3 months time and divy up the meats and cheeses.
Market top this week for me too... I would not be surprised to see the market back to bearish mode for a couple of months. Sell the noooozzz... OHLC
surf- would you mind sharing some of the patterns you see? 9000 Dow (which is 6% up) would not surprise me, what is bothersome is the earnings outlook. Companies are cutting down future business to meet today's Wall St. numbers. S&P still trading on the high side on trailing 12mo P/E basis. And yes, I know it's trailing......but notice how the companies reporting the last few days have "beating est" but are reducing forecasts. In trading accounts anything can happen..but in my longer term $..I'm looking to lighten up soon. Happy Trading. Uptik2000
hi babak, yes, i believe the market will continue climbing. only the market knows for certain. remind me in 3 months, and if you are right, you can count on only the finest meats and cheeses from me all the best, surf
good observations, uptik. however, check out niederhoffer's new book for studies on P/E and it's actual effect on stock prices. i think you may find it fascinating. as far as the patterns that i see , sorry , that is what i get paid the big bucks for . yes, past 9000 i have no conception of what could happen at this time, lightening up LONG term $ seems prudent. best, surfer
There's definitely an upward bias to the market these past few weeks. All of the worst news has already been priced into the market (corporate scandals, recession, war, etc.) and I don't foresee how the news can get any worse. Companies are starting to post some decent earnings. I'm going to trade primarily from the long side. Bulls, Green Light!