THERE'S NO RECESSION! MARKET ACTION DOESN'T FIT MY PARTICULAR DEFINITION OF A BEAR MARKET! I'VE MADE MORE WITH MY LONG-ONLY INVESTING STRATEGY THAN YOU CAN POSSIBLY COMPREHEND WITH YOUR PUNY WORTHLESS DAY-TRADING SCALPING STYLE! DON'T LOOSE ANYMORE MONEY SHORTING THIS POWERFUL MARKET! SHORT SELLERS ARE UN-AMERICAN! SHORT SELLERS ARE EVIL! Did I miss anything?
Good eye. Lots of mid caps breaking out to all time highs. With a little more sideways grinding the market would enable a lot more stocks to create solid bases to eventually break out from. Too early to tell right now.
Will you ever learn ? The market can not always go UP. Yes it does go higher over time BUT that's mainly because the equities in the Indexes CHANGE to reflect the best of the best companies. You need to learn how to just sit still and be quite.
I second that. I am bullish but do not have any long positions yet. Do not make it more complicated than it is S&P has a support at 1340-1345 close below 1312 will probably send this market lower, that is all to it if you are a technician. I am using S&P as a reference only. Nasdaq looks much better less resistance, first resistance at 2420 and than it is free to go till 2550. being bullish doesn't mean - loose money, If market will not come to my support level I will not buy until confirmed break out (S&P need to close above 1400 for 2-3 days), being bullish has nothing to do with my day trading. I had 5 short sales today only.
EVIL SHORT SELLERS HAVE DRIVEN STOCKS TO RIDULOUSLY LOW VALUATIONS THANKS TO THE ELIMINATION OF THE UPTICK RULE!WE'D PROBABLY BE LOOKING AT DOW 36000 IF NOT FOR THESE LOW-LIFE PUKES! I knew I had forgotten something. The ultimate scapegoat for bad long-only stockpickers.
We are in a situation where both bulls and bears want a selloff of some sort. Bulls think the market has bottomed and want to get long a dip. Bears have had their pants taken down this month and need a selloff to be let out of jail. As is typical, the market is not accommodating the masses. I don't think we can selloff until a gap higher open fails. During bear markets both up gaps and down gaps trap the bears. We saw the former a week ago Tuesday, saw the latter today. After hours is strong, perhaps setting the stage for gap higher open tomorrow.
looking at the sp500 chart, technical strongly favors another upward spike after a week of consolidation and bullish outlook despite the daily bad news. I am looking for a move up very soon, probably by next monday latest. Then you have options expire week, which is anyone's guess what crazy moves will happen. Look to reevaluate the current short term uptrend/bullishness after option expiration, to see where we stand. But make no mistake, this is only short term move up, we are still in a bear market.