jobs number fell ONLY 80,000 this month. YEA!!!!! we were expecting down 50 anyway, so fu*k it. we should go up 1000 points today and at be at our all time highs.
I hate ambiguity. Thats why I'm happy to see a thread like this one during my quick weekly or so browsal to "Elite Trader" to check if I'm missing out on anything here. Thanks for giving me the certainty that I crave so much.
scary thing is you may be right. People are so pissed at this market moving higher (myself included) that it makes it that much easier to move higher. Fundamentals mean nothing in this game.... unless you are a long term player. This is the perfect number for bulls!!!! Bad enough to rationalize shorting but with the market so hot not bad enough to cause a selloff which in turn causes a pop when shorts start covering.
im so frustrated you have no fucking clue. im getting killed on SRS - look at the chart. its an ultra short real estate fund. its priced almost exactly where it was before the credit crisis began :eek: ive kept adding to this and im getting smoked. im long hundreds of may calls now, cause the stock position is too big to add to. i think soros (and rogers, actually) have it right. market has reached a short term bottom and now momentum is strong to the upside, but eventually we will trade below january lows. question is when? and how much pain for shorts till we get there?
Market is shrugging off this doom and gloom. We already know economy has slowed down, why beat ourselves and damage our charts?
Stock market has nothing to do with fundamentals. Its all about technicals. Buy strength and sell weakness. The only way to consistantly make money.... unless you have really deep pockets and a long timeframe.