People have a way of demonstrating they have nothing to add. Almost everything in the market is unforeseen. If they knew about it, the market would factor it in. Interest rate direction, expectations, economic realities, earnings, etc. etc. Your statement is like saying that temperatures will rise this afternoon, unless for some reason, they drop. Seriously...
Very fair. What I meant re the .the 'unforeseen' part is something like a terrorist act. I did not phrase it well at all. However, I do not appreciate the "people have a way of demonstrating they have nothing to add." I've been doing this a long time and writing a long time as well; I am simply trying to help people much less better define my own thinking for the trading day ahead. I type as fast as I can so I am going to have poor lexicon every now and again. In any case, your point was very well taken and I am sorry.
Eric, Just wanted to say that I (and probably most people who take the time to read) appreciate your take on the markets each day. I find your analysis to be very comprehensive and I've gotta say that it helps clarify my own thinking as well. The lists have been helpful as well. So thanks!
Please ignore TraderZones and StockTrad3r. They are useless trolls. Great thread so far Erik. Keep up the good work and thanks for your time.
The equities market was severely overbought last week. Today I finally got an equalized signal in the advances to declines ratio. I would say, either we're due for the next leg of the run-up, or at least a stabilization/ bounce before the next major move. My personal opinion is that we will start seeing a run-up anticipating the huge stimulus package. The last 3 days washed out most of the speculative excesses.
your reply is refreshing. ET has a lot of guru wannabes like Hershey who pound on and on with uneducated or uninformed posts, leading newbie traders into the Garden of Confusion. And there are a lot of desperate newbie traders.