Discussion in 'Trading' started by Landis82, Mar 7, 2008.
No one believes the rally.
You are not short???
Still holding my QID, SMN and DUG.
Daytraded QLD, bought at 64.75 sold at 66.25.
This is an oversold rally, I think it goes down even further....jan 22nd lows to be exact.
it was just short covering i guess. market will fall 150 + today..
I bought my favorites ( LLL and BNI ) along with a couple of oversold stocks ( CRDN and GS ). A lot of stocks opened dramatically lower this morning on ZERO volume.
Also bought some EXAS for my "speculative" play on colorectal cancer screening. They just had their non-invasive lab test put into the American Cancer Screening Guidelines on Wednesday of this week.
On a fundamental note, LLL is where you want to be. It's a buy on any weakness.
People thinking that this is just" short-covering will get hammered. I believe that there is a "bid" in the DOLLAR, and thus a "bid" in the equity market.
Good Luck to all.
So the market rallies 200 points, then what, a jump to new highs, the markets going lower, sell the rallies and buy the dips. Last time the dow was at 12750+ people were screaming new bull market, well its not a bull market, its a BEAR MARKET.
For the 600th time my friend, this is the TRADING FORUM and not the "investing" forum.
When will you realize that there are people that will kill to take out several points in LLL, GS, BNI, AAPL, etc.!
If you actually spent some time TRADING, you would realize that. But given your tendency to spend the entire trading day in this forum doing "cut and paste" jobs of various "Gloom & Doom" articles that agree with your bias, you have no clue about what TRADING is all about.
The SPX is now 21 points off this morning's lows . . . Is that trade-able?
Bid in the $ doesn't necessarily translate to a bid in equities. It is far more likely to be a risk aversion/flight to safety trade and more than likely puts a bid in short term treasuries, not equities.
rally fading, dont be surprised by jan 22nd lows soon.
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