Discussion in 'Trading' started by capmac, Jan 8, 2008.
Major tank coming...OR....
A possible suprise rate cut...
s&P broke the august lows...
Feels great. All those who chased the sucker rally in morning just got burned.
I'm going bullish into tomorrow. I will be jamming the futures higher tonight causing another sucker rally.
Im leaning more towards a relief rally sooner than later, think its possible that the dow heads back up to 13k around the time they announce a possible rate cut which will send all investors back in to think that everything is better, after that the sell off may continue, if earnings arent showing anything great expect new lows on the DOW by June 2008.
I can almost feel the footstep of Ben/Paul/Bush rushing down the hallway with a cheat sheet with some sort of economic stimulus plan.
They did it the last couple times, but you can only hold the water back for so long.
Not quite. Intraday lows for
August = 1370
Today = 1388
It's interesting that the USDJPY, which has been highly correlated with the Dow over the last year or two, is still holding above its November low.
i can see goldmansachs buying in front of the fed announcement and i wonder why ??
damn what a day i was long 1000yhoo dumped it at 2298 then it rallied up to 23 15...then i sold intc at 22 83 it went to 2293 so i shorted at 22 92 then it went to 23 12 i covered at 22 98 and right away it tanked to end at 22 30....i also got burned trying to play the t drop was avg long at 38 71 it went to 37 14 and bounced -i got out avg 38 40 then it went to 39 33 which i shorted and covered at 39.00 ....friggin nerves are all wasted now....lost about 300 today but saved my azz by dumping my intc long at 22 83
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