Who would call bullshit on a posted red blotter ? Actually I'm sure someone on here would claim it was photoshopped and the poster actually lost 10k instead of 5k.
A question for you fundamental experts: What ever happened to the "debt crisis"? Okay, so economic numbers have been coming out the last month that are better. More jobs, less unemployment, and all that stuff. However, remember all the "sky is falling" talk with the debt, not only in the US but in Europe? Are we just having a case of amnesia? Because to my knowledge, none of that has fundamentally changed.
Market always overreacts. Already discounted in current price and was used by big money to accumulate cheaper for the run to 1325-1350 that is still in play
You're saying the market overreacted negatively and that the long term (I'm talking a year or five) state of the US economy can support continued upward movement of equities? A nation cannot continue to borrow, borrow, borrow, accumulate $15T in debt, and still be "ok" if that number continues to grow, unless the GDP were something astronomically explosive to begin supporting it. It's like having a low income job and a huge credit card bill. At some point, you have to pay the piper. Or am I way off, fundamentalists?
With my limited experience with fundamentals, I would just note that the price of equities can also go up as the value of the dollar goes down. Maybe it's the just the weakening value of our money that is causing the push? There may not be any true added value, it just costs more to own what's already out there.
watching comp at the open. finnies as well as those were the leaders yesterday and by larger than typical percentage. 80-82 is res (obvious) . i show a heavy band of res area 79-83 yesterdays high, VAH, double top from late Oct.
The first chart is the pullback / target that hit overnight. The second is the next "measured move" in the series so-to-speak, so right now I will be keeping a lookout for a long on our way to 1286ish. http://i262.photobucket.com/albums/ii90/bigsnack/2012-01-06-TOS_CHARTS_long1.png http://i262.photobucket.com/albums/ii90/bigsnack/2012-01-06-TOS_CHARTS_long2.png
Now it looks like the market is in a 50% long setup right now, but the volume profile doesn't match the setup, so I will be passing.