Market is overbought

Discussion in 'Trading' started by vince111, May 14, 2008.

  1. vince111


    and all the longs are high on heroin, free heroin from the FED
  2. Can always get more overbought.
  3. This market will not fall over the short or intermediate term. The fed will do ANYTHING to ensure that.

    And it's a schizo market, too. There really are some incredibly cheap stocks, while some are incredibly overvalued.

    It's a stock pickers market par excellence.

    If I'm right about crude and gasoline, ALJ and WNR are so cheap that it's silly. Same thing with IPSU and Q.
  4. empee


    what does (Q)west have to do with Oil?
  5. S2007S


    The markets were completely overbought in the middle to late 2007 and yet everyone thought they were going higher, didnt happen, when that kind of mentality sets in its time to take some profits off. My friend who had not invested in this market since 2001 put money into the market on October 9th 2007, I told him to wait, but he didnt, fast foward to today and hes down around 10%. He is a buy and hold person, not a trader. Many think the markets are headed alot higher, most likely going to break out again and head to new highs, could that happen, Im sure it could, but im still on the bearish side.
  6. Good thing he didn't sell out February. And weren't you the ultrabear around then?
  7. S2007S


    He didnt sell out, im told him to stay in, hes long term....

    Yes ultrabear in FEB, still am, Added some TWM and QID in the last 24 hours....

    Will be buying SSG soon as well...
  8. Dude, I have been jipped. I did not get free heroine, where do I go?? Can you spot me some??
  9. You must not be much of a TRADER either since you have sat on the sidelines whining and crying about how BEARISH everything is . . . and just watched the QQQQ rally 20% since the March lows!

  10. +1

    I am still perplexed why "TRADERS" on this site get so pissed about up markets and long-term direction in general.
    #10     May 14, 2008