Nasty Trading Folks- About the only way to make money today will be to chose a technically superior stock having a natural break away today without the aid of earnings or upgrades, assume the market will continue to dive for a while and leave a limit order in beneath the market hoping to get filled on a lunchtime malaise and then somehow get a recovery high in the stock which puts you up for the day and then you can decide wether to keep holding as market conditions warrant. Does any of that make any sense to any of you? Stk DMRC. now plus 50 cents. 52 week high b/o $11.25. Limit In @ $11.30 Lets see if we can make money in such a choppy market! Peace-
Guys I need someone to talk me off the ledge. If I asked you to guess how much the market would be up on a potential turnaround tuesday if oil would nosedive AND we would have struck a deal with N Korea on disarmament on the same day.... you would say.... For indices to turn down indicates real institution selling. Starting to get nervous. Having decayed tooth ache and scheduled rip, tear- pull tomorrow... I seem destined for pain here-- but how much from Mr. Market. This does not look good. Add to that these bio's fling all over the place in a daytrading frenzy... it just doesn't feel great here. Yet just a stones throw away from new highs....
If the ES ends near 1435 or higher, we will have had a perfect 61.8 %retracement off the high. Tomorrow should be a strong up day.
gargle with some peroxide to kill the bacteria on your tooth ,it'll quit hurting, can't outguess the mrkt here but if 1435 doesnt hold i'm looking at 1429...ps what time do oil futures close?
Looks like some buying is coming back in to the market. Selling has been relatively weak and buyers just took a break for a while. This looks like a good place to buy the dip if you are so inclined.
if this market is under distribution, then it is pretty low volume so far and nothing to worry about. We have not even had a "Dow down 100pts" type of day that stuck. Every dip is being bought and bears like me are getting frustrated by the lack of bear follow-thru or strength. I am hoping something gives this week so we get a break http://lauristonletter.blogspot.com/
CNBC made me entirely uncomfortable this afternoon. Maybe it was the oral surgery but I tried to take a lousy 1 hour dose off and all they could do was hype the new high angle on the market it was sickening. What really made it bad was the no risk way they were framing the thoughts Bob Passani said of the emerging markets it's just different this time money is so much smarter they don't just flee these markets-- it was near scandalous. They had a four box set up with everyone cheering on the market in the lower left was this freaky looking guy I didn't realize till they signed off it was RALPH ACCAMPORA! My god what happened? It's as if he pulled his face straight back- face lift gone horribly askew? He looked totally different! I'll tell you all a true story- there was a time in my life when my brotherinlaw worked at Smith Barny that we would literally call each other the moment Ralph made a prediction on the market and we would go the other way. Wrong Way Ralph every time. Like clockwork and he was getting paid over a million dollars to be wrong that much. I'd do that for free! Anyway last I heard he had been fired and there he was today- I was tuning out by then don't know what he said. The Larry Kudllow show just continued the madness with this no risk analysis of the market. My prediction is thursday the very safe emerging markets Bob Passani was leading people too will fall quite a bit on a big bond default by Uruguay. Good interview by Maria. Message to Maria you have pulled yourself together nice. It was just a few short months ago I was saying you had lost your looks now you have this wavy hair thing which is working. scandals becomes you my dear! Maria interviewed Gary Kasparav the chess dude on Russia- he is damn interesting. Leading a mini rebellion and he's smart- because of his fame- they probably won't kill him off. He said Putin probably has as much money as Bill Gates. think about that! He also predicted he would leave power within 8 months if oil stays in control. Yet another reason for the Saudi's to keep oil low! Kramer came on one of his mid day stop buys ... " did anyone notice the market was up... " he said HEY ASSHOLE REMEMBER YOUR RED YO YO? remember the SEASONALITY trade how you don't want to own stocks now because of seasonality... I wanted to reach through the screen and strangle that saggy underarmed bastard. Anyway all of this ra ra will lead to an correction any day a quick 2% more higher and that will be it. And the F*ing Nasdaq... when I said it would have trouble getting through 2500 the 1/2 retracement I had no idea just how hard it would be....