Discussion in 'Trading' started by neutrino, Jan 9, 2004.
I smell easy money around the corner... Anyone else with such feeling?
No... But let us know how you`re doing!
famous last words.....
You probably mean a lot of fresh cannon fodder climbing aboard. We badly needed it in the market. Please tell us more about it. We all follow your advice of wanting to learn.
Good to you,
unless you know the winning numbers to powerball or mega mililons, i dont know of any "easy money"
WHAT DO YOU MEAN?
Whenever I start thinking like that, I usually get killed.
Easy money is when there is a good trend without any major corrections (in hindsight, of course). I don't have any more fundamental information than you guys, but the market looks overvalued, there are still concerns regarding the improvement of the fundamentals, and this makes the continuation of the rally seem unlikely. But this uncertainty is exactly the fuel that will lead the market higher for let's say the next couple of weeks. On the technical side, everything looks crazy, everybody wants a peace of the cake, and fresh money (volume) comes in the market. This is euphoria money and I expect a high sentiment driven rally, it's like printing money...
Because these are all beliefs, feelings and speculations, I wanted to see if anyone else can share them, or I am on the wrong track.
My point is that if the rally seems as impossible to me as it is to you, then it will probably happen
P.S. When I say rally, I mean for a position trade, let's say a month. For magnitude I expect NASDAQ ~2400.
SPY closed against its 200 WEEK MA and DIA against March 02
Shorting here is a no brainer.
Its funny, but my Sentiment indicators are showing me the same thing! 51 out 55 different groups of traders exhibit anxiety to jump in LONG.
Separate names with a comma.