these annoying late day selloffs is becasue of the data due tommorow. The money guys know that if they bid the markets too high before the housing and durable good numbers the odds are greater the market will reverse cause too much optimism is priced in. Instead, the money guys are keeping a lid on the markets (especially the dow & sp00z) is to build a base before a large rally tommorow on the news. I suggest buying the dips now and even if the markets go red. This will be bullish because it puts less presure on the numbers.
markets plunged into the red ..wow dow gave up 75 points in just 30 minutes.. Ready to add some DDM should this keep going lower. I checked google and Ap news for any info as to why the sudden reversal but turned up nothing I suspect the market is pricing in potentially negative housing and durable good numbers This has happened since monday and the number is due out on thurs. The more the market selloss today the greater the odds it will react favorable to the numbers so it is time 2 buy the dip
heheh... but you know, regardless of the logic (or lack thereof) behind his theorizing, it will happen just like he called it.
I see the bearish, negative sentiment here is still very much intact like when I created my 'remain calm' thread a couple weeks ago . I guess that means were going higher. A lot of dumb money is entering here taking out shorts and puts.
good ole Greenspeak commenting on China`s bubble had a bit more do do with it than Alfreds analysis. are they taking out the shorts or putting on shorts,Al? i really appriciate your deep thoughts on these issues...great work.
If Shanghai doesn't have a reasonable profit taking session tonight after US having a very weak session and Greeny's comments, then the 7th sign of the financial appocalypse will have manifested in the form of Mad Chinamen.
Geenspans comments shouldnt have caused a 75 point dow selloff. Maybe 40 poitns or so. Housing and Durable order data will be out.
I see people bashing you all the time yet your calls are the only ones I remember that are right. Heard from bluestreak lately LOL?