Is this market overbought?

Discussion in 'Trading' started by BLip, Oct 1, 2007.

  1. BLip


    Everyone's saying things are going to go higher from here (thanks to the Fed)... I heard someone throw out 16000. But I'm seeing a lot of securities and indexes that, technically, look to be overbought. That would suggest they have only one way to go. Am I the only one seeing this?
  2. As John Maynard Keynes said, "The market can stay irrational longer than you can stay solvent" Anticipate market direction at your own peril. Wall St. was littered today with shorts who were anticipating that the market was going down today in light of Citi and UBS. Might the market go down tomorrow? Absolutely. But, I want to see price action confirmation first.