If you think this market is tough remember last fall with the election on Thursday and the job report on friday. Every exit poll would whipsaw the market wildly and then a complete surprise with the very high jobs numbers.
i dont agree. the sell off was a shock knee jerk reaction. i dont see any long term impacts on value. im bullish - youre bearish. we have a market! look at the currencies - now trading at pre london levels ( apart from gbp - but that could also be to do with the boe announcement)
you mean no american was involved and no american interest will be affected ? 9/11: market crashes Bali bombing : where is Bali ? Spain terror attack: it's only in Spain and they do not really support US. market dips and rebounds London terror attack: market thinks it can dip and rebound again
"sell off tomorrow"? maybe, but the close did not indicate that! I can't believe we have bombings and the market shrugs it off. I thought the adage was "markets don't like uncertainty". So who the fck is buying into the close to hold overnight apparently? ... but then, like I said... there is no more free "market", it's merely a pile of crapola hedge funds/arbitrageurs and large options players manipulating it to given levels/ranges each month. I'm looking for a sell-off in late July/early August below the major/intermediate trend averages, and then new highs in last Q... although it is possible we stay in a (farily narrow) trading range all Q3!? ICe
Ralph Elliott would be proud of today's action.... just a beautiful 5 wave (3-up, 2 down) Elliott IMPULSE wave today.... some stocks like ERTS up 4% from the morning lows.... wow. This market is: "Follow the money".... and it's coming.... from bonds (the move is over), from real estate proceeds (tons of cha-chingers out there !), from commodities (inflation except oil is dead), from currencies (move for US dollar over ... I think). (Hey, Warren, what do you think now that you're down 3 billion on your short-US dollar bet ?) Yeah, it's crazy....but use your head and follow... the money.
Good luck on those shorts! When the market shakes off negative news it's a sign of strength, not manipulation, In my humble opinion! I am hedged in one account, and long in another. Was long overnight, so this morning was a little ugly! But it cleared itself up and will continue to hold for a few days.
======= Fred bloggs said I am bullish baby however I am not bullish on QQQQ ; they have been in mostly downtrends since most of this year, & since 2000 Ice you said ''cant believe it the market shruggs it off???'' why not believe it ???; the weakest of the weak-QQQQ/semisector finishes up and more importantly ''it hasbeen /is bull market''/excluding QQQQ Also war tends to be bullish on top of a bull maeket; get a clue ---AMR is still @almost yearly highs.
I have to say, I am reluctant to put money down on days like today, but with retail's numbers that came out last night, you can't be iffy! The market might be uncertain, but I wasn't. ANF and AEOS were good plays for the morning half. I believe I'll play ANF again tomorrow. Slight sell off around 1300 hrs, but flat the rest of the day. Still holding GOOG, too. Very Strong indicators today. The last hour showed strong buying - up four points on INCREASING volume! As this is my only long term (uhhh, that means about two weeks for me) 310 is my goal. Moral: Just find the good stuff. And as someone on the first page said: follow the money. Did this tragedy stop any major services, products, or people from continuing their duty? No. So I am assuming the big money is going long now in excellent companies - investors are using this down day as a great bp. I'm doing alright riding the wave. What I love is when someone asks what I do, and I tell them. Their faces are almost always saying to me, "So when are you filing for bankruptcy." All others see are the market indices. Prestige comes in the bank account, not the indices......
Putting your neck out on a day like today sure was rewarding. Trading the retailers was a nice move, eventhough ARO and PSUN were losers. Home builders made a nice move also. Didn't get in until later this morning and missed the upturn, but ended the day good. Have to wait until tomorrow and see if this was a fake rally or a real one. Tired of this trading range of 10,000-10,800. Happy trading.