the market will rally as long as shorts keep trying to short based upon the bloomberg, cnbc news of tops and we should retrace from here talking. a large portion of this rally is on gap ups premarket, thin volume and corporate reports which imo are bs. no one can digest a report in seconds or minutes to justify the moves, there is an agenda and thats it and gs and the other wall street government whores will ensure the end result. an simple example was intc report was to be at 430pm, the futures market closes at 415pm, intc reports early at 415 and the markets gapped up 15 mins later more than 30 points. just games to meet the ends. don't know if you have noticed but there have been several days where the nq is down, qqqq down, stocks down overall and the nq futures were up big. Until shorts stop jumping on board on any little drop to have the high frequency entities jump in and squeeze hard we will go up. My guess we will continue next few wks and will some time before september have a limit lock down. w
Thats it, once everyone comes to the point that the market can only higher is when the selloff comes into play, everyone knows nearly every market around the world is quite overbought yet keep feeding into the thought that the turn around is here and everything will be back to normal, im sorry to say but there is no way a credit crisis of this magnitude is fixed in only 6-12 months. If we did see the end of the crisis and the next great bull market is here I really need to know where the momentum will be to drive both markets and economy for the next 10 years forward.
Taking more profits today...Not sure about your argument -- here is a case where the market recovered promptly from a credit crisis: http://en.wikipedia.org/wiki/File:Dow_1904_to_1909.png
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