If your a tech guy shouldnt you be buying todays "double bottom" (i'm suprised you didnt have resting orders in place for the past 1+ month!)? Thats a textbook buy point (regarless of the FED action)....or at least a place were you would be liquidating shorts from above the market on a tech trading basis??? If your a tech trader though...I'd be buying with both hands tomorrow if we get any 200point dip (about a 50% fib of todays move) with stops under that double bottom low (where i'd also flip and go short) and my first price targets at the 50MA.
What you say is confirmed by the Bullish Percent of the S&P 100 Yesterday, it was 28.00 Today, it was 27.00 Nonetheless, 30 or less is relatively good field position. Maverick
Interesting, that is good to know, and yes the field position is very good. I like that term. It's a keeper.
Holy Grail, I was a bit underwhelmed by how today's action translated into very little BP movement. I think you will find that with another strong up day (or more) you'll see more buy signals fire off and the BP will really start making some real progress. -BullAlert
Let us get to the chase HolyGrail. How much are you losing so far? Do not try to justify things. Check your account between 3:40PM yesterday and close of today, and you will now if the market is strong or weak. BTW, the market was flushing her signs yesterday, but the majority (as usual) did not listen. but, I have a possible good news for you. Wednesday or most likely Thursday the truck may go back to save the injured. Board it, and stop arguing with the market.
I happen to agree with you as I'm seeing the same thing tonight when I look at the SP500, SP600, the Dow and the Nasdaq100. This rally probably has legs for a few weeks, after that its very questionable IMO.
Looks like today's rally started last Friday about 2:45pm EST. Somebody get the newspaper early? Then Monday a drip down to throw the dogs off the scent... ...then buying it again Monday evening until - Surprise! - announcement Tuesday morning! And I bet the SEC is hotly on the trail...
techs sucked today...csco,msft,intc were up just over a point when they should have been +2 at least on a 400+ dow day...easy come easy go...bearish sentiment and cramer bear call are the only thing that fueled this rally.Otherwise its sell the rallies.
It is ok that you are mad at me. Here is some advice I have for you. Complete your analysis. Reach your conclusions. Then here is a way that will make money with high probability (it does not apply to you only, but to the majority including myself): Do the exact opposite of your conclusions.