Discussion in 'Trading' started by MrDODGE, Nov 6, 2008.
At about 8,655 on the Dow.... What do you think going into the final two hours?
We have seen this time and time again, the sell off through out the day followed by massive selling from 3:30 to the 4pm closing, maybe this time its different.
In all fairness, we've also seen rallies in the last half hour that have come back almost to even.
Stocks selling off because the idiots voted for Osama. But expect a rally on employment data. Bad news priced in. We should revisit 1000 soon. This sucks though. stocks keep falling and obama as prez doesn't help. I almost felt like selling everything after he won and qutting the stock market for the next four years.
yahoo tech ticker bullush on commodities and energy. they want rising gas and oil prices because its good for US economy and stock market.
When oil was at 140 the dow was at 13,000.
Now oil is at 65 and the dow is at 8900. So much for the bearish, anti-free trade, anti globalist theory that falling oil is good for stocks and the US economy. It isn't.
We need the dollar to fall. We need more bailouts. Need to invade iran so that the dollar falls and oil goes up, which is good for large cap tech, energy, and commodities. Need second stimulus package.
We have also seen markets trade in narrow ranges in the last hour of trading.
To sum it all up, nobody knows what's going to happen in the last hour.
Down we go!
prob 70/30 rally into close imo.
im long from 901 covered half already at 917, other half at 929 stop 899
Why do they bother to report a loss of 4,000 jobs? Thats insignifigant?
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