HolyGrail Registered: Jul 2006 Posts: 105 07-24-06 05:57 PM Still look like a prediction to you Wannabe? Still short? Are we going to 1180 still or 1300 first? Who's predicting? Traders dont predict. Wannabes do....!! -------------------------------------------------------------------------------- Quote from roctrend: Quote from roctrend: Predictions are for losers, those that cant trade....predict for what? Ego? trade price and volume. I lurk and wait for sentiment like AAII and ET Posts, etc. you trade with the Crowd? ha.Resistance 1269 look out if above, will go to 1285 if breaks by few points. 50-200 day shorts. But let's see if 1269 holds first. -------------------------------------------------------------------------------- Hmmm, that sure looks like a prediction to me.
I still don't see what all of the excitement is about. None of the indexes have moved over resistance, and until they do everything is just noise. The fed meeting will determine the short term direction of the market.
I guess you must have missed what the Treasury Market has been doing lately ( 10 year under 5% ) or what today's GDP report was.
No, I didn't miss that at all. Just because people are pricing in a pause in the treasury market doesn't mean that is what is going to happen. If there was conviction in the marketplace the s&p would have been way over 1280 by now, and its not. This market is in a range until the fed meeting.
Well, it's a matter of how you define short term, isn't it? The market action this week may be the "noise" on a monthly chart, but it was more than enough to make a living by fading the "the crash is a sure bet" threads that seem to have congested this board right before a sizable up move. I think that's the reason for excitement.
Well back when the market was falling the bear market had begun according to some including myself, and now that the market is moving up we hear a second leg of this bull market is upon us. Two camps with opposing views. My only point is this will not be settled until after the fed meeting. The market creates its own volatility during a time like this so there is no need for any "I told you so's" until after the meeting and a clear direction is determined. If you're a daytrader(which I am not) you should love this highly volatile time. Volatility makes you money, not the direction of the volatility.
No objections, we are on the same page. And you answered your own question -- the volatility this week is the (good) reason for excitement.
A clear direction??? Not settled until after the next Fed meeting? What is it that you need to see in order to initiate a trade? I'm sorry but I would beg to differ with you regarding the kinds of moves that we are seeing currently. One does not have to be a daytrader in order to capitalize off of the ROTATION that has been going on week after week . . . If you simply hang most of the weight of the evidence on the market averages and whether or not they "confirm" a particular move up or move down . . . you really are missing some incredible 15% moves in individual stocks and sectors! For example, take a look at the move LMT has had since putting in a low in late June. From $70.00 to $80.00 straight up. If you were sitting around watching the SPX sell off during this very same time period from 1280 to 1225 you completely missed what was going on. Or how about the move that PFE has made over the past two weeks, from the low 22's all the way up to over $26.00 with a 4% yield to boot! And I'm not even talking about the energy sector here. Moreover, this has nothing to do with volatility whatsoever! It's a MARKET of stocks, not a stockmarket. I'm amazed at how many people fail to realize this or capitalize off of it.
Wow, that is unbelievable. I went to Adlai E. Stevenson only a few years back and cannot believe that my HEALTH teacher makes 171k a year. I knew we were one of the highest paid districts, but I did not realize the extent.. Our drama teacher is the highest paid in IL? WTF? :eek: