market opens up big then will DROP

Discussion in 'Trading' started by NY_HOOD, Sep 2, 2008.

  1. the market will open big because of Gustav but we all know the s&p is trading at 25 times earnngs and the street will sell this rally. market is'nt in the basement because of Gustav so it ain't gonna sustain a rally because of Gustav. short the strength....
     
  2. i made this post PRE-MARKET. I told everyone this would happen,it was so damn obvious.
     
  3. 5 gold stars for you!
     
  4. nice call.
     
  5. It was a nice call and also reinforces a BAD habit, which is trying to guess what will happen. If you can do this everyday, I will retract my statement.

    On a similar note, I noticed that the Vix was only very slightly down while the market (ES) was up 20pts. I thought this was very strange, Vix should have been down much more. Anyways, market did come in a lot. The world makes sense again :)

     
  6. Whats it going to do tomorrow?
     
  7. It's going to open down. Buy the weakness.

     
  8. i only make those calls when its obvious to me,which is maybe once or twice a month. as far as individual stocks,i am much better and usually pick one or two pre-mkt and go with one or perhaps both and get out very quickly and then shut down my computer. otherwise i sit patiently for a set up and if i see nothing, i simply DON'T TRADE...
     
  9. very correct, ny hood is astute

    you can't predict EVERYDAYS price action
    but some days price action are very pattern like, so it rings a bell instantly.
     
  10. remember the most important thing i said:
    :i sometimes sit patiently for a set up and if i see nothing,i simply don't trade".
    damn it, thats discipline........seriously,thats what i do.
     
    #10     Sep 3, 2008