Yeah, I recovered a bit with the second buy after the gap open...I see us as in no man's land to some extent...50 ES points off last week's lows which equals a move from last week, yet NQ still has room to run higher...so I'm not initiating any other trades in this range (might regret it).
maybe you should. what's your trailing stop? i don't wwant to see this PB 20 pts you still claiming V Day
Just for reference, take a look at the summer-fall 2007...Not saying that we repeat 2008, but considering the plunge in oil, the pressure on corporate bonds, etc, etc...it's at least in the conversation...that year the market took out the highs in the sept-oct timeframe. similar "rolling chop" with short quick sell-offs that were constantly cut off and rallied back...Everytime I look at those hi-flier tech stocks and how they just sit up there perched, it just doesn't feel like "it's time" for the whole thing to fall to pieces.
Cramer said the market made sense???? I guess because it went up, if it dropped it wouldn't make any sense at all, even thought NY state factory orders fell hard (Manufacturing activity in New York state plunged to its weakest level in August since 2009 due to steep drops in new orders and shipments, although optimism on future business improved, a New York Federal Reserve survey showed on Monday. The New York Fed's Empire State general business conditions index tumbled from 3.86 in July to -14.92 in August, its lowest since April 2009. Economists polled by Reuters had expected the index to rise to 5.00 this month. A reading above zero indicates expansion.) The market rallied today, I guess because the worse the numbers are the better the chances the fed keeps rates at historical lows, I mean almost a decade has passed since the fed has raised rates, and zero interest rates as you can see are doing nothing but creating bubbles, zero growth with historical low interest rates and the markets are cheering as they are up over 200% in the last 6 years of this bull run, does anyone not see the disconnect here? Cramer goes on to say that when rates are low housing becomes more affordable??? More affordable? HMMMM, I don't know about the word affordable, the smallest 1 bedrooms near me approx 750-900 sqf in an area thats just okay cost $2000 a month and that doesn't include electricity, thats affordable? Thats on the cheaper end as well, go to a nicer 1 bedroom with a doorman and some extra amenities and that becomes $2500-$3000 a month. Yea, affordable, houses aren't affordable thanks to the fed and their fucking QE, housing prices would be 40-50% lower today if it wasn't for the fed printing money and propping up everything from wall street, to commodities, to the cost of living.....affordable, yep, nearly 50,000,000 people on food stamps and he thinks housing prices are affordable...you know what affordable is, working 1 week to afford your housing expenses, that number doesn't work anymore, it used to back in the day but with minimum wage still under $8 bucks you aren't going far now a days. Finally, a market that made sense! Jim Cramer loves when the market makes sense, because it gives him the ability to get creative and make judgments that can reap some serious rewards for investors. What does Cramer mean when he refers to a market that makes sense? "How about the fact that the slowing growth of the global economy and the negative manufacturing data we are seeing in this country have caused our interest rates to remain low—very logical," the "Mad Money" host said. Cramer considers this data to be logical, because when rates are low then housing becomes more affordable. When housing is more affordable, then people will switch from renting to actual home buying. This information, combined with the fact that banks are now willing to lend more with less of a payment, has spurred a mini-boom in housing. No wonder the homebuilder confidence is at a 10-year high. "What is extraordinary to me is that this move is happening right under the noses of people who should know better, but they keep waiting to get their signal from the Federal Reserve. You don't do that if you're a serious investor," Cramer added. (Tweet This) That means investors should tune out the Fed talk and do the homework to figure out what stocks do better in the current environment. Cramer's answer? The homebuilders.
They can keep rates at 0 all they want - but it's been shown to not have the level of positive effects on the economy that they desired it to. Eventually the machine runs out of gas.
Don't worry, they won't let it fall very far, by lunch we will be....WELL OFF THE LOWS......AT THE HIGHS OF THE SESSION....