Could the Market Blast Upwards This Week?

Discussion in 'Trading' started by Bear Plunger, Sep 8, 2009.

  1. Are you guys getting a sneaky feeling that the market could surge higher and RUN higher?

    Just wondering what your thoughts are, because I'm short right now.
  2. If you're short, then sure it could blast upwards :)
  3. Jym


    I basically positionless now
    I have a couple option credit spreads but mostly just waiting around until we get moving in a certain direction.

    1045 to 1050 is the resistance level I'm looking at now. We close above that and i may have to force myself to go a little long.
    It just feels dirty at these levels.
  4. That's what I'm saying . if it hits a brick wall a ton of people are going to be on the wrong side too - and very quickly - alot of people are still loading up.
  5. kxvid


    Depends if the news is bad enough. If we get lots of bad news, yes. If the news is good, down we go. Yes you read that right.
  6. Jym


    This is the chart I'm looking at.

    I'll probably just sit on my hands the next week or 2 while in no-man's land and see if we bust out of the top or the bottom...or maybe just keep bouncing between the 2 blue main trendlines another week or 2 after that but we only have so much longer to go up between them.
  7. Gold over one thousand dollars, oil just under seventy dollars, ES at 1025, NQ 1650 and the Dow 10,000 area makes me nervous either way.

    Yes Monday was a holiday but it sure has the feeling of last years fall movements where both the Bears and Bulls lost because of the large moves done in one or two days.
  8. Perhaps a longer time view will help...

  9. Futures skyrocketing. Looks like 100% up room to go! NO ri$k!
  10. Could the market blast higher?

    Since Marketsurfer is still short (not taking profits as was advised) and still "looking for that big plunge..." it is nearly GUARANTEED! :D
    #10     Sep 8, 2009