the only difference here is that the speculation and outright fraud; hype; bamboozled; lets party like its 1999; i can buy a house with no money down and get money on top of that is not in the stock market this time around...ala circa 1999-2000 when the analysts on wallstreet fueled the bubble...peace
My first and last prediction on ET. But what the hell. Market opens up. Consumer Sentiment halts a rally, and the market starts to rollover. Further weakness begets more panic selling to a daily low. We get a little bounce early afternoon as shorts tentatively cover, and buyers dip their toes in. But be careful and keep long trades tight and fast, as the market will not be likely to rally strong into the weekend.
on the one hand, people are more chastened and cautious from the last bull, argueing for a milder bear on the other hand, fed spent it's reserve pulling us out of the last bear we've got $100 oil
Let me tell you something-- The Fed chairman asked Congress to get involved yesterday. That is tantamount to him throwing up his hands and waiving the white flag. That can't be good. Everyone knows the Fed is planning on cutting rates and the market sold off anyway. Remember , it was Bernanke who just recently said that we were not headed for recession and now within a very short time he is asking Congress to get involved quickly. The Fed chairman is weak-- It was always the Fed who would try to prop the markets up and now they are asking for help. That is a very weak signal and message to be sent.
How do you know my positions? How do you know I am short? My recent calls appear on another thread. They have been spot on. A top of 1480 would be a lower high and that would suggest the trend is down.
at this point, it's more than a suggestion the trend IS down, even if today is the start of a spectacular rally lower low put in yesterday