These levels look ripe for at least a short term bounce. If I had millions I would be building some long positions and selling volatility. Lets see if the last low pivot holds. If it breaks and holds on the upside, I think its safe to put on some longs. Wouldn't be suprised if we get a monster upside trend day tomorrow. Most longs have been washed out.
Your problem is listening to kudlow in the first place. You kept incesantly blabbering that we aren't in a bear market or recession and didn't see the writing on the wall or refused to see it and you were a dick about it. You totally missed what was coming. Due to your douchebaggery I have no empathy for your on going stock losses. Read my earlier post... page 3 I think....it might help you take off the blinders. Anyone going long here is catching the falling knife.......this will get uglier before it gets better. Stupid novice move trying to guess the market bottom with the shit we have going on in the banking system and economy. No technical support for this market, it is broken. God only knows where the bottom is. Remember nasdaq 1999-2003....5000>>>>down to 1000. That's quite a percentage loss back then. And the crap out there then was not nearly as bad as the shit we are knee deep in now, a banking crisis where banks won't lend to banks and recession. get a clue and quit being such a douchebag.
what do you base that on..... a guess? remember I said in an earlier post that we would rally at 10:45 am tomorrow. Of course that was a guess also!
wouldnt be surprised to see a monster morning sell off...however maybe the euro bank infusion in the morning will help stave off a rout.One of these days they are going to have to do something-i mean bernanke spoke and market tanked again...I dont think the market has ever NOT tanked after ben speaks...The guy is useless for markets.
It hit my stops so I got out. I'd rather control risk and miss out on a potential rally, than stay long when I misjudged things and expose myself to an open-ended loss if it keeps going lower.
I'm just a ripe newb, but I made a bit shorting today, my best gains yet . Any predictions for tomorrow?