Market eventually has to selloff, we are closing in on 70 DAYSSSSSSSSSS WITHOUT A 1% DECLINE IN THE S&P. HMMMMM. OVERBOUGHT. I THINK SO. People are starting to get what we call "GREEDY". I think a pullback to around 11650-11750 area would be what the market needs to get another round of strong buying. IF the markets decline tomorrow on Googles earnings which were great, I think it will be time to start pulling some money out of this overbought market. Also have earnings from MMM, CAT and MRK. CAT will be the most important out of the 3.
Don't count on it. They didn't pump this market up this close to election only to let it fall BEFORE the election.
Well thanks! and for the record I am flat. I have been trading soybeans on the ECBOT. Margins are great, plenty of liquidity tight spreads, I like it alot.
Well some will say the party is not over and Nov and Dec are great months for the market. I think the market is tired and the elections are uncertain. But you no wall street they will spin any situation as a reason to buy buy buy buy. I am just trading soybeans and have quit trading stock index futures. I also have been trading some renewable energy stocks. I am in the camp that we are running out of oil and that renewable energy is the way to go.
If a good trader likes a market, the likelihood of success if heightened. He knows what makes money when he sees it. good luck frogman