Friday was worst day of 2012 iirc - that can't bode well for the short term. Gold/silver has put in a bottom IMO and I think we'll see nice runs in miners as the market definitely expecting more QE/LTRO sooner rather then later. I can't see anything newsworthy happening until after the Greek elections which means we drift lower until then. Hang on to your seats cause we're in for a bumpy ride - I sure as heck would not be writing credit spreads. Sell any EOD stick saves IMO.
Yeah Lucrum, it's the weekend, a bit of light banter can be fun I made my first trade 18 years ago, the times of trying to predict anything are way past me.
Simply put...No....Anyway you want...I'd never let your type close enough to me to hear your voice. Plus, let's just say you and everyone here were programmed in such a way to be good traders, and had the dollars to be effective, and by some stroke of magic I, or someone like me, where to convince all of you of the errors in your ways..How then would I replace the superior feelings I get whenever I swing by here and read the nonsense you pikers write?
My hopes are pinned to a gap up open Monday, slow retest Friday's lows, then proceed to close completely the gap higher. What happens after...
I'm not sure about a "crash", as the market tends to inflict the most pain to both sides, long and short. Thus far the shorts have been right from 1,400 on down, but the appeal to short may dwindle as the S&P approaches flatline of 1,257. For an investor, election years are usually bullish, especially in the 4th quarter, so accumulating positions now could provide big winners for an end of year rally. For a daytrader, the only relevant parameter is intraday volatility. So it all depends on one's timeframe and risk tolerance. Just my 2 cents.
One other scenario i could deal with is a gap down, slow retrace to Friday LOD. I DO NOT want to see a gap down, then further down Monday without looking back. :eek:
Possibly on Monday the Dow will go down to 12000 at least, so from Friday's close that is not really a crash. There may be some retail who buy at this level but they will be left holding the bag as most likely the Dow will later during the week resume its downtrend to 11000. Again at 11000 there will be some temporary support before the market goes down to the 2008 lows.