Is the rally for REAL this time, or do we retest/break the lows?

Discussion in 'Trading' started by paysense, Oct 30, 2008.

Place your vote and give your reason(s).

Poll closed Nov 9, 2008.

  1. For real - new Bull Market

    22 vote(s)
    15.2%

  2. Fade the rally - we are going lower

    54 vote(s)
    37.2%

  3. We haven't seen this Bear Market lows

    49 vote(s)
    33.8%

  4. I don't care - I'm a day-trader.

    20 vote(s)
    13.8%
  1. MKTrader

    MKTrader

    Based on redemption levels, I'm not so sure about that. They've already hit levels that usually accompany market bottoms.

     
    #41     Oct 31, 2008
    Share
  2. stock_trad3r

    stock_trad3r

    We have all the ingredients for a bottom, which was established on October 10th.

    Don't bet against the US. Maybe Germany or Japan, but not America. We have the most flexible federal reserve system. The fed is printing as much money as needed to keep the economy churning, and all recovereis v shapped. It has been that way since 1982 with the inception of Reganomics, and that isn't going to change anytime soon.

    In addition the US consumer is not slowing their spending, constrary to what some pundits were prediting a few weeks ago. The age of prospertiy which also began in 1982 is far from over.

    And all the econ data and earnings reports have been much better than projected.
     
    #42     Oct 31, 2008
    Share
  3. MKTrader

    MKTrader

    Stock_trad3r,

    Please hush and don't jinx another strong close.

    Thanks.

     
    #43     Oct 31, 2008
    Share
  4. makloda

    makloda

    #44     Oct 31, 2008
    Share
  5. paysense

    paysense

    I am thinking along the same lines as <i>intradaybill</i>. I think we've been doing the same rinse and repeat procedure for the better part of the year.

    We may get a rally for a bit - but then look out below.

    :eek:
     
    #45     Oct 31, 2008
    Share
  6. hottpotat0

    hottpotat0

    give us some more clues please
     
    #46     Oct 31, 2008
    Share
  7. hottpotat0

    hottpotat0

    ahhhhh grasshopper you have good view of reality and mkt psycology-you make sense-perma bulls will not like your sense to them it is non-sence...but for some it is real cents has value of gold
     
    #47     Oct 31, 2008
    Share
  8. hottpotat0

    hottpotat0

    were you not spouting the same kool-aid last fall? before the fall?
    you said to trust the fed
    we do not trust the fed
    most trust the fed some of us do not-
    read "Secrets of the Temple" tell me if you feel the same afterwards-warning it is like reading war and peace
     
    #48     Oct 31, 2008
    Share
  9. El Guapo

    El Guapo

    My Call - DOW <3000

    My reasons -
    http://market-ticker.org/archives/634-Beware-Bottom-Callers.html

    "In short there is absolutely nothing in the past history of the market to support a "bottom" call here. Remember that CNBC's mouth-breathers along with virtually every commentator called a bottom in March and then again in July. How has that worked out?"

    Got Bullets?
     
    #49     Oct 31, 2008
    Share
  10. afto

    afto

    1) We close above the lowest swing high (S&P in four digits)
    2) We retest the lowest low (10/27 I believe).
    3a) If we close below that low then look out below - SELL
    3b) We succesfully retest the bottom and then close above the previous swing high.
    4) BUY - Then I'll start nibbling and buying on a 50% retracement.
     
    #50     Oct 31, 2008
    Share