market selloff late mon?

Discussion in 'Trading' started by doug456, Dec 14, 2003.

  1. doug456


    does anyone think the market will sell off late mon or on tues for some profit taking?
  2. Let me frankly tell you this. Even if somehow shit happens tomorrow, and the market retreats, which personally I don't believe it will happen, even if it happens, new high will be made later before 2003 runs out. Just keep in mind that I told you this many times. The close numbers of 2003 will be better than tomorrow's. 100% up room to go.

  3. I agree. I also see more upside room in the Naz as it did hit 2000 a week or so ago and at the very least a retest of 2k before year end now seems imminent. Any theory on why the naz and dow seemed to have a disconnect in performance lately?? (besides the obvious that the Naz has outperformed the Dow thus far)
  4. md2952


    trade what you see and not what you believe,,let the tape be your guide
  5. and you don't ever want to be short a bull market during the month of December when prices can VACUUM around on little or no volume, unless you enjoy lots of PAIN!!!

    Sure, there will be a ton of volume tomorrow due to the undwinding of Triple Witch positions. But after that, I would certainly adjust one's "size" to the illiquid Holiday Markets.

    At this time of year, if you are wrong, you are WRONG TIMES THREE!

  6. doug456


    not to be rude, i'm not asking about the end of the year or next week, i was just curious if there will be profit taking late tomorrow or tues.
  7. ertrader1

    ertrader1 Guest

    Well i have no idea on this one. I have traded many Gap ups, intraday. Mainly all the fun ones in 99 , 2000. They were standard break away gaps after some basing and some Runaway gaps , ones that come after we have been trending.

    Each Gap up i bought on pullbacks and most of them, not all, but most of them ended slowly drifting up to new highs on the day.

    Im not really to sure about this Gap. We have been trending, so this could act like a runaway gap. But with the the low volume we have had, with the actual % run with out any correction....
    IMHO i believe this might be what is technically called an Exhaustion Gap....and my boy surfer is playing it as one.

  8. WinSum


    ertrader & surfer,

    Well played !


  9. I thought the unwinding of triple witch

    takes place later in the week? :confused:

  10. thank you !

    surfer :D
    #10     Dec 15, 2003