How bad Tuesday?

Discussion in 'Trading' started by pumpanddumper, Aug 7, 2007.

  1. I viewed Monday as mostly short covering and a cleanup of some of that massive short interest on Wall St.

    As soon as its announced that rates remain the same at 5.25, I expect a good 150 points knocked right off the DOW and a continuous freefall right into the bell.

    See you at 12,900 on Friday.
  2. Market will rally and rally hard. That's how I see it. But then, I only hold my trades no longer than 30 minutes so it would be immaterial to me :D

    Hope you don't continue to lose money betting on the bear.
  3. Almost everybody is praying for a rate cut tomorrow; how will the market rally hard when their 1-10000000000 shot doesn't come through?
  4. Maybe everyone on ET is (nervous).

    The expectations on wall st. aren't that high - the fed funds futures is pricing in practically zero chance of a rate cut here. Asia is already nervous - they've sold our buying a bit off. I just think they are waiting to buy after our 'news catalyst' is done.

    Remember these corrections change predominant market psychology from bull to bear.

    If you believe we're going into recession in the next 6 months, this is a selling opportunity. Otherwise, buy away.
  5. I'm ready to sell off right into the bell.
  6. oh no market selling? ughh derf

  7. Damn, what an immaterial day!!!!!
  8. Hmm, no idea how you could be down 40K or whatever this year?

    (Hint, stop predicting, it doesnt work consistently)
    (Hint #2, try learning to read your stocks or the market which you trade and find your clues that way. Beats guessing any day!)