I hereby demand and explanation for today's market after Friday's late day strength (with ALL that atrocious news).... completely trashed my trades end of Friday, AND this morning..
Here is a secret: Just because a market does not crash on bad news does not mean it is strong, it may just be going through a technical (meaningless) bounce...
We never really had a rally, it was just bunch of noise on the dow, I'm looking at aapl for the general market direction instead of the dow for the short term.
OFFICIAL MEMO Date: 11/10/08 From: THE MARKET To: retire45 Sir, my job is to befuddle most of the people, most of the time. It is the very nature of markets that only a few can win. And that, unfortunately, is not you. Regards, THE MARKET j/k good trading to all!
rumor has it, smart money predicts 20/25% more for the down move. (Not overnight but before the end of the year) Sp500 699 INDU 6749 This could be the bottom they say. Plenty more "Outflows" to come from Joe Sixpack's 401k Hedgefunds selling out in every rally. The "bad news" has just started. Administration Transition....... Obama has yet to name key appointments Nationalization of AUTO Industry being pushed by the Dems. Plenty of reason's why you sell into rally's with less risk.
The dow is easily manipulated yes... and I despise it as an index. but to use AAPL to gauge market?? I trade mainly ETF's and they ARE markets on their own..