Discussion in 'Trading' started by pumpanddumper, Sep 7, 2007.
Let's get ugly, then buy the dip.
Bad omen 666 posts.....:eek:
Recession rally starts today!
This might very well be the worse Black Friday yet.
% wise weak. Can smell 12,xxx again.
I don't suppose it's occurred to you, Dumper, that in a long-term down market, you should at least, assuming you are going to continue with this nonsense, sell the peaks rather then buy the dips. Or do you plan on buying every dip all the way down to 1225.
Since when is this a long term down market? The highs were less than two months ago.
Ask yourself that again in 6 months. That said there are stocks to buy. I bought MEAS three days ago and am happy with it, will add to it if it can clear todays highs. IRIS is another stock in a great sector showing good strength. If it can break higher I will buy it. The catch though is that I have a much bigger short position in the IWM because we have, even if stocktrader and mini dont like it, entered into a bearish phase in the market. (Note I did not say we are yet in a bear market) The big test is going to be when we retest the lows. If those can hold, then all the short bets will come off, if they cant we have a lot of downside in front of us.
My point is that it's way too early to say we're in a long term bear market. A lot still has to happen before things become clearer.
I for one wouldn't be surprised to see this market chop between 1550 and 1350 right through to next year.
Indeed, you'll never know whether you are in a long-term down market until it's already happened, will you now?
DISCLAIMER: Any of my posts in response the "Dipster's" posts should be looked upon as light-hearted, condescending gestures, and nothing more.
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