i just cannot see a smart fund manager telling himself that the fed is on top of things and in 6 months the economy will be better so he should be buying stocks right now. this rally will be sold.
this rally should have been sold when the dow was up 300+, why some people get greedy in a bear market is beyond me...they should know there will be great buying opportunities ahead.
Poo, I just covered at 1301., I'll take the bonus 11 points. Think I'm done for the day. The bloated market can keep her 200+ move. Ponzi scheme is done for the day.
I can't believe it all went down like that. It's too bad I took profits early. I did short the FED number and caught the flushout. I did not enter the top of the ponzi scheme late rally. The best thing to do was sit it in case of a whipsaw in either direction. I'm glad this FED day is done. Tomorrow I predict a little follow through like the last 400 point rally. Visa will be hyped and pumped all over the medai. I am actually debating to make a play on it for a point or two long. Now with everyone cheery and the sky is blue mentality is great. Lots of dumb money will be buying into the madness. Now a new shoe can drop (wouldn't be fair to drop them all at the same time right?) It's not time to drop that bomb. New money has to come in the next couple days. Then its time to wash them out. I think smart money is actually dumping commodities and fueling the market in equities a little further. We'll see if this rally can hold through tomorrow. Visa is a good mirage and pump and dump play.
Thank you so much for pointing out that this rally should have been SOLD at +300 on the Dow. If this came from someone who actually TRADED the markets, it might carry some weight. C'mon, please tell us how much Baron pays you per post???
c'mon Landis,pumpanddumper is a "true G". i bet he's on the phone with elliot spitzer asking him for the number of that escort service. pump likes to have a good time. he better have a limo pick me up tonight,i need to get out of the house.
Think he means other guy. Hood, I got rattled at the open. I felt so guilty being a greedy bull, I immediately dumped most. I didn't let the run go its full extent. The anticipation up until FED rattled me as well. I dumped rest of long positions. Tried to fade it and got lucky and out unscathed. There is no chance in hell I would buy over 300 points up. I let vortex run its course. Would of been nice to just dump right near the bell and clean up for a nut busting bull day. I'm kind of neutral right now. Market is is in mans land and middle of the cusp. A follow through runup would be nice with Visa hype tomorrow. Then the bear protection gets to work and wipes it all away Thursday as position bulls profit take. A nice big shoe to drop over the 3 day weekend would be a nice set up.