Now may be a good time to load up the spy is 50 cents off the lows made @ 5PM. 696.33 690.0 0.50 We could easily open 1% higher tomorrow Don't be caught short when we have another 10% one-day rally. It could happen. Ben, Obama, Geithner, Summers working together to prop up the economy. A lot of bad news being discounted. Maybe things aren't so bad. A silver lining? Recovery by late 2009? A wall of worry to climb?
Low on YM was 6604 Things are so oversold right now that anything short of a million job loses on Friday will start a massive rally at least up to 6800. Long term the trend is still down
being a glass half full person means that when others see doom and gloom and rush for the exits I take a step back and ask 'are things REALLY that bad'? The answer in many cases is no.
And that's why your highly (self) touted index has lost 90% of its value. Cuz u know how stocks werk.
Stock, why don't you promise to leave the forum if the spooz closes below 600.00 The bears will not make any such commitment. It's a way your can gain credibility in your statements.
We should be above 1,200 now. Fundamentals certainly justify it. But that aside... Looks like honk kong is surging after opening down 100 points. Japan will probably open green, too. Seems like the AH selloff between 4:00-6:00 PM could a bear trap with the ES up 10 handles. If Hong Kong ends the day up 400 points it will translate to a 2% rally in the ES and a much higher open for Europe. A good trade would be to enter now and sell b4 the open. The premarket has rallied every day for the past 10 or so days, but the gains usually don't hold after the open. I think we're really close to the bottom of this entire bear market. A 10-15% one or two day rally seems eminent. The outpouring of news regarding the break of the dow below 7000 is staggering, as is the pessimism. Smart money & funds are waiting for the perfect moment to induce a huge rally like in 1974, 82' and 02'.