seems like this stock rally is 110% bullshit... but still, stocks keep going up... anyone have any opinions?? good day to trade what you see and not what you think -- has been a great exercise (for me anyway) in waiting until everything lines up before pulling the trigger...
I am always wary on the last day and first day of each month, or quarter....So many agendas going on with the CTA's and other funds doing their stuff near the end of a specific time period...Today does feel like garbage, reminds me at this point of where we were at in mid January when we churned around in that 905-935 area with alot of hard selling when we hit the upper bounds of the range, but lots of temporary support at lower ends of range...
The only thing that I can say is, "the market do what the market does". Go with the flow, Bro. Let's try not to think too much.
The last hour might be a touch crazy. The fund managers are clearly nervous, they might throw out baskets in this hour.
exactly - like i said, it's been a nice day for me to really focus on doing what i see, and not what i think... ...although i did sell the uptrend when we cracked the high on the spoos... bad habits die hard, but can be tolerable with tight stops... the trends have been very nice, but like i said, i'm at a loss for what is making stocks go up -- but the end of the month was something that i didn't connect until vulture mentioned it... presumably there are some fund inflows as people start to hear in the news that the bottom may be "in" aside from greenspan, who usually makes the market go down, i was at a loss for why things are going up...but NOW i know... seems to me that the rally will hurt the shorts a bit more, then we'll get some panic selling as the big money covers their shorts from selling this rally...
DIE, NASDAQ, DIE!!! hehehe as usual, i'm seeing institutions dump stock to fund managers... my guess is that we'll stay strong for the next week or so as the buying continues...then it's hello panic once those chumps run out of money....
geez...i wrapped it up a bit early today...wish i hadn't... what the hell happened?? everything got killed!!
pretty crazy, everything had big buy imbalances, i added to my longs, c/jpm pair had both imbalances in my favor... i though i was money then the bottom just fellout last few minutes... when the smoke cleared i was scratch on the day...