Japan is on fire..global buying frenzy

Discussion in 'Chit Chat' started by stock_trad3r, Jan 6, 2009.

  1. N225 now up 220 points after opening just 50 points higher and is rising in a nearly vertical line. The futures are now green. Expect Hong Kong to follow. Then Germany will open higher and so will France and Britain. Looks yet another rally tomorrow.

    Dow 8,955.00 5.00 0.06
    S&P 500 931.40 0.90 0.10
    NASDAQ 100 1,272.50 1.50 0.12

    The SPY future was negative 2.9 points.

    We're in a global buying frenzy on an epic scale that began two weeks ago on December 24th.
    it's nuts. Overseas markets surging 2-6% day..day after day after day.

    Between October 10th and November 21 tons of short sellers entered the market anticipating more downside. Now they are being forced to cover at any price.
  2. You can see the giddiness of investors. The market never changes. It goes between extremes of pessimism and optimism, but never in a straight line. I do believe the overall equities have put in a solid bottom, but I think that the market is severely overbought and is going to tank pretty hard within a matter of days.
  3. LOL. Now you're only down 83% instead of 85%? Hooray!
  4. talknet


    Gaza strip (Palestine) and Israel are also on fire.
  5. [​IMG]

    looks great! all that chart does is go up! UP! UP!!!!
  6. I'm tempted to put this in chit chat. Perhaps a discussion will ensue that is not about how dumb the OP is.
  7. There are no threads here to discuss overseas markets.

    I would like to see this thread stay on topic.
  8. ganesh6


  9. Looks yet wrong again.

    And as usual, on a down day like this, the clown is no where to be found.
  10. Brandonf

    Brandonf ET Sponsor

    Agree Ricerocket. I think we have put in, at least, some sort of short term bottom that can probably be traded profitably from the long side, however at these prices we are (short term) overbought and due for a correction. It will be interesting to see how the market handles it, how sharp is it, how much volume etc. I think that will give us a lot of insight into how strong we may or may not be going forward.
    #10     Jan 7, 2009