market opened Green, then turned RD and ...

Discussion in 'Trading' started by hajimow, Aug 4, 2010.

  1. hajimow


    Will close in dark green today. That is my prediction. It might end up wrong but based on the history of what happens, I believe in my prediction.
    Reason: Started with good news, and market was green, then slight profit taking and doubt took it to red territory and then the seller remorse, will pull it higher.
  2. Bob111


    or's depends on how you look at those good news. news is good->US economy is getting better->market can go higher->market up

    or news is good->economy will be better-> rates will go higher->bad for market->down
  3. hajimow


    With my limited knowlwedge, I believe rates will not go up at least for the next 6 months. They might go down which is not good for stocks since it shows the sign of recession.
  4. hajimow


    Based on the current price action, I believe if we close green today, tomorrow we will see a low pressure sell-off that will drag the marget down about 0.4% to 0.6%. Specially NASDAQ. I will close my long tech positions by the end of today.

  5. Three words to ruin a man’s ego …
    “Is it in?”
  6. S2007S


    Market trading sideways all day, last 30 minutes is when all the action will take place today, DOW has been up between 30-45 points for the last few hours, talk about exciting.
  7. hajimow


    Tomorrow Tech stocks will retreat from today's high. Sell at close
  8. hajimow


    Today will end up in RED because of tomorrow. No one will risk being long before hearing tomorrow's data.

    Note: It pre opened at red and then turned green. As I am typing it is still green.
  9. With all the bad news we have today - weak retail sales, surge in weekly claim, the market still moving higher (even it open lower), this tell one thing, market want to go up again !!!!

    It wil take a "not too bad" news tomorrow to give a market an excuse to go higher and higher. My 2 cents.
  10. S2007S


    If the market can rally on bad news it can drop on great news.

    I'm sure the bulls are waiting patiently to see if the job report tomorrow can push the SPX above 1131 and then beyond 1150.
    #10     Aug 5, 2010