I'm missing something here, Bill Dudley said "the firming of economic activity is welcome and not a reason to reverse course." He is in favor of finishing off QE2. So shouldn't the market goes higher? Why did CNBC said because of his comments, the market lost most of its gain?
CNBC is a joke. Same people who were pumping internet bubble stocks in the 1990s are pumping correction plays now. Yes, the bs trade right now is persuading bears to blow all their money looking for the next great correction. There have been 3 such market wide crashes in the last 40 years. So the odds we will have one only two years after the last one is almost zero. But we get a constant parade of doomsday analysts in CNBC looking to get famous calling the next great crash. And you don't hear from them when their calls are 10-20% or more underwater now ( kind of like Elitetrader ). That's whats funny about Elitetrader. Its full of permabears denying the bull market shorting stocks. Locutus for example predicted a 20% correction sometime around November. I told him directly that this was an earnings/dividend/m&a led bull move that was going much higher, and he fed me a bunch of bs about it being an overstretched market that couldn't possibly go higher. We now have the bonus of a rapidly improving US economy, which would have really rallied this market hard already were it not for the Japan situation. Even the permabears here got a little quiet lately. I believe they are genuinely puzzled now why their theories aren't paying off. Its a real quandry when your bias prevents you from making money; what can these bears do ? Switch sides they are afraid to be owned by the crashes they believe are imminent. Stay the course their accounts are being gradually hammered inch by inch. Of course, if you play sectors well you can make money in either direction. But this site is obsessed with market wide moves and cynical people who believe the entire world economy is in the crapper no matter how much money corporations make.
I was about to say the same thing. The market wasn't reacting to Dudleys comments, it was reacting to the continued violence in the middle east which overshadowed the "barely" positive econ data that came out in the AM. That was the reason for the sell off towards the end of the day..
You're such a loser its getting funny. This year has been extremely profitable to me, as anyone can see by the trades I have recommended since last summer. I have made money on longs and shorts. I don't trade demo accounts I am a professional trader. The problem is some of you are bulls and bears, I am neither. I'm a trader. I follow trends and fundamentals and when they say up I go long. I don't make silly trades like shorting market leaders like AAPL in bull markets. I leave silly trades like that to jackasses like yourself.
The "sell off" was normal trading going into a weekend. Ebb and flow is very healthy in a bull move. You must know that if we crack 1345 on the S&P 500 that this market will go to 1390 area in short order. The bias in your post is outrageous, but pretty standard for Elitetrader. It must be comforting being in a bearish crowd.
A. Your a perma bull B. You have only been Day trading for a year... Fact C. One would hope you made money being a perma bull in a bull run.. E. You picked the one lagered of the whole market this last run.... Financials.. Nice work..
He's been trading less than a year. TDA auto-liquidated the moron on at least three occasions on option positions because he lacked the capital to hold the stock when exercised. Perhaps you'd learn after the first incident, but not this turd. He went long AAPL at 353 only to watch it drop 20 in a week. He makes Increasenow look like Steve Cohen.