Market seems to rally in the last hour

Discussion in 'Trading' started by hajimow, Jan 22, 2008.

  1. hajimow


    Market has cooled down from its selling mood. It seems that we might see a rally on key stocks at the close.
    The reasons are:
    Most probably Asia and Europe will rally tonight and will give more leg to US to rally on Wednesday. Call it a sucker rally or wahtever but it will be a rally. Lots of call volume. Odds are in favor of covering shorts at least temporarily. I believe this will happen at around 2 PM.
  2. Only reason we didn't crash today was because of the rate cut.
  3. hajimow


    Interesting thing is that BBY, CC, HD, LOW, IYR are all up. AAPL seems to close positive today.
  4. hajimow


    I agree and if it was only 25 point, it would agitate the market more and we would have crashed deeper. 75 poin did the job.
  5. hajimow


    WB also seems a buy. They came out with their numbers today.
  6. Are you even vaguely familiar with what the word "close" means?

    We've only been open for 1 1/2 hrs now, still lots of trading to go.

  7. Adobian


    That's it. If Dow goes green today, and the FTSE has done so, this is it. It's time to go long again.
  8. hajimow


    Yes I think I know and that I call it the art of meaningful prediction. I don't predict yesterday. I don't predict next year. My time frame is a month and if I can not at least have an educated guess or prediction for the close of today, I should not trade.
  9. Of course it's time to go long again. Free money! Speed up the printing presses!
  10. Hmm... what will folks spend their stimulus package on?

    Ipods.. flatscreen tv's... home improvement stuff...

    thar ya go.
    #10     Jan 22, 2008