Market should close in Red on Friday because...

Discussion in 'Trading' started by hajimow, Feb 25, 2011.

  1. It is 11:45 ET time now and market is in deep green but who wants to stay long in this uncertain weekend? Many things can happen during weekend. It is better to be sitting on cash than gamble. I believe market will erase the gains and close slightly in red.
     
  2. risky63

    risky63

    kinda logical reasoning....
    but the market doesn't play by those rules.
     
  3. Maverick74

    Maverick74

    Who wants to be short going into the weekend? Many things can happen during the weekend. It's better to be sitting in cash then to be short. I believe the shorts will cover into the close and the markets will close deep in the green.
     
  4. Markets don't trade based on that
     
  5. Locutus

    Locutus

    Indeed what the above posters said, it will probably slow down into the close. Just because you are freaked out by all the news and shit, doesn't mean the others are. I think markets will gap up over the weekend (in Europe) and then immediately reverse course. Cash equity trade might thus gap down in the US on monday (with plenty of time to get in futures shorts).

    It's what happened last time the market tried above the level it is at now, these things have a habit of repeating themselves. Although last time there was a pile of buyers ready only ~2% lower (2 feb).

    Also at the last green print of the latest bear plunge (2/21 when all you americans were asleep at the wheel) it didn't gap down over the weekend even though Libya was already clearly in play at that point and proceeded into the (light) green for the first hour of trading before plunging more than 2% on the remainder of the day.

    Talking about the French CAC40 index here btw.

    Just assume that the market will inflict the maximum amount of pain on the most people possible and assume you are part of "most people".
     
  6. cstfx

    cstfx

    remember what Greenspan said...
     
  7. all we care about is what Bernanke says
     
  8. Pekelo

    Pekelo

    One week ago was just as uncertain the political situation and we went into a long weekend with a rally....
     
  9. Locutus

    Locutus

    Nevermind what happened during the weekend :D
     
  10. Maverick74

    Maverick74

    I was right! I was right! What do I win? :D :D :D :D
     
    #10     Feb 25, 2011