Going higher?

Discussion in 'Trading' started by heidegger, Aug 31, 2007.

  1. Good economic news. B&B are tracking the subprime situation. Most charts look ok.

    But it just doesn't feel right.
  2. dont fight the trend
  3. Sell long positions from the dip into this strength and start shorting. I feel good being short into the weekend. I expect interest rate increases from either Japan and Europe to take place next week sending the markets lower.
  4. Agreed, I expect next Friday to be an ugly day.
  5. Damn, I was hoping it would go session high's before the bell but gave back 50 points in 10 minutes.

    well, 12,800 before 14k IMHO.
  6. bh_prop


    Yes, surprised by the seemingly out of the blue selling volume that showed up right at the close. Had been very little selling volume entire day, at one point >25:1 up volume, ended <10:1
  7. Economy and threat from credit bubble are so bad that the Fed "will do anything" to prevent disaster.

    Sounds bullish.
  8. Cruzan


    No, definitely not. I went long today and made a few bucks. But if there was any reasonable amount of broadly based bull sentiment there should have been at least a couple of nice uptrends among my picks. Instead, there was just absolutely lackluster, anemic, foot dragging. It was enough to tell me we're definitely not in a bull market. Maybe things will turn more that way next week. And of course since this is the Friday before Labor Day, volume is also off.
  9. Jerome


    I agree, I'm guessing the market will be down Tuesday. Construction Spending report is due. Last five have produced down days. Three out the last five post-Labor Day weekend Tuesdays were down days. In 02, the market dropped -355. Hope we're not going back there.

    Good news doesn't last long in this market--about a day. Buy on the dips.
  10. Not yet.

    Wait a little more.
    #10     Aug 31, 2007