Why because I think this bounce can go up more and make another good shorting opp.? The market was oversold and ripe for another low volume bounce like we are having today. Yes I am a trader.. do you think I would be heavily shorting the DOW after its down like 5 days in a row? I would be reaping profits.. and waiting for the next rally to fade. Thats how its done.
Thanks for the props but I really don't think that my call had much to do with luck when I was simply using technical analysis that helped me in my trading methodology. I use these same indicators over and over and I have a lot of faith in them. As for you, I am really puzzled as to why you refuse to play a rally of 170 Dow points . . . even if it is only just a small position. I'm afraid that your bias towards the bear side really shows, and it makes you out to be the perma-bear that you really are.
If anyone thinks that we are in some sort of a "bubble" that has nothing to do with being economically based, I would suggest that you take a look at the National Association of Manufacturing Survey that came out earlier this morning, and helped spark this rally.
Waggie, Ok . . so? CEO - CFO . . . but name calling (ie, "ignorant")? Sheesh, I'm all cash at the end of every day - and was long all day today - nice accumulation - for what the bulls could muster imo. But, big deal - I don't really care which way we move from here to tell you the truth. I was just probing for answers on the big "economic" picture. Got both sides. Thanks. Don't take such offense to the other side of the coin. In any case, if it makes you feel better to point out it was the CFO and not the CEO of AMAT, then so be it. My point was, I don't take everything they hand us at face value. I'm glad the market bounced today. Yeeha!!! Better to have some direction than the chop we've had to trade the last few days this week. But lighten up man. Life's too short to be so harsh. I just trade what the market gives me. Sorry if you missed my point about the "face value" thing . . . but don't call me "ignorant." k? . . . ok - good.
Compared to most to you, I dont trade that much, but I wanted remind everybody that the military spending will be included in the second quarter gdp numbers.Last year,military spending accounted for 70% of gdp in the second quarter. If the market continues down ,the bottom should be around the 9660(dow) level.Your tipical 10% down move,at which point the market will turn around and work its way back to the january high and keep moving to test the 11000 level.goodluck.
The National Association of Manufacturers Survey is what really got this market rocking this morning. One of the more optimistic suerverys for this sector of the Economy in quite some time!
===================== Dont trade that much in a bull market either, which is what we are in for the past year. Not promoting unsecured lending; but looks like market likes a hit rate of 95% plus in credit cards .
Hey Trend Fader: How come you don't post today's very good and "better-than-expected" University of Michigan Consumer Sentiment numbers? Whats' wrong? The numbers don't seem to fit-in with your perma-bear forecast for the markets and Economy? I know that this is your thread, and you started it with a very gloomy set of numbers and commentary, but in all fairness I thought that we should post today's numbers, and those of the "current" conditions index as well: 95.8 in March from 94.4 in February Pretty darn good numbers, especially the "current" conditions index, which also rose to 106.8 from 103.6 in February and 105.7 in March. http://biz.yahoo.com/cbsm-top/040326/bb10d09c48b44b9923800c25a4883ebf_1.html
Before u get all excited.. looks like the bond market is starting to get the idea that inflation is on the movel