Indexes Overbought?

spreadem · Mar 19, 2003

I expect profit taking beginning Thursday afternoon and into Friday, especially if there is an early rally on Thursday morning.

Way overbought!

burnin · Mar 19, 2003

opinions are like assholes

hardrock375 · Mar 19, 2003

Quote from burnin:

opinions are like assholes
More...

And, they all stink.

slapshot · Mar 20, 2003

Quote from Mecro:

I agree, but I do not even need technicals to tell me that the rally is shortlived and is just making up for the lack of volatility because of the war uncertainty.

Market is still overvalued, the real estate/mortgage bubble will soon burst, consumer debt is through the roof, bankruptcies are at the highest level, while the job market is pure shit. Outside of prining more paper, eroding the dollar and artifically creating more consumption with more debt, there is nothing to turn this economy around. Although oil at $10 a barrel could help.

Government has high debt, many local governments are in a budget crisis, trade deficit is at a high (although it can be argued how pointless that number really is).

So get those shorts in
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"And now, back to reality!"

Nice call - all of the above is true - just another Bear Market technical rally fueled a little extra by some greed and relief.

Paul

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Indexes Overbought?

spreadem

burnin

hardrock375

slapshot