As much as I would like this move to continue... as it provides opportunities for the pure day traders (like me)... the market really hasn't come down much yet. We are still above the pre- "Egypt worry" levels. What I did see different though was the permanent bid under the market has been missing for the past 2 days. Normally it kicks in around 10:30-11am and just slowly ticks up the market for the rest of the day. The lack of this perma bid leads me to believe we might get a bit more of a move on this one There were not many bidders in the past few days... however we need a more sustained move to get any of the real longs worried
That's what I was about to say about all the BTFD buyers..they only buy the dips that go up on a dime...they were out of the market the past 2 days and will not return until the market turns around. then they will all come out and say, they bought the exact bottom....hahahaha too funny on ET.
What we're seeing here is a revolution. It's a general uprising of the common people against a network of oppressive regimes. It's equivalent to the democratic revolution in Europe or the Communist revolution in Russia and China. It could have tumultuous effects on the global economy for years. The question is.. Are the Arabs intent on actual liberty or on simply getting a bigger piece of the pie? Let's hope for our sake it's the latter; in that case they can be temporarily bought off and reform can be gradual and orderly. Total chaos in the region would be catastrophic for the global economy.
Really? I hope today's rally won't hit your stop loss again( your 50th stop loss in row?). I hope this is not your last dime to short the market With the Fed virtually printing money day and night, what you think?
Our markets aren't shaken by human tragedy anymore. They're shaken by large demand and small supply, and visa versa.
Back to basics people the trend remains valid, pro traders know this and are buying the dip while all the retail move in a heard to sell and then we'll take out your stops as we move to fresh highs
The market is only a few points up and you guys come out of the wood. I don't know about the seize of your balls but mine are big.
i had an afgan cabdriver in 91,asked him about the next successor, he says they will be the same thing..kind of like our presidents..nothing changed