Nice rally off horrible consumer sentiment-is it a 1 day wonder?

Discussion in 'Trading' started by dsq, Oct 28, 2008.

  1. dsq


    One bullish thing is that the market reacted the opposite way to bad consumer sentiment numbers.Thats always a strong sign.Dont know if this is a bottom forming process.
    A negative sign is that nyse vol was average according to cnbc.
  2. piezoe


    You gotta figure that everyone was expecting sentiment to be just horrible, so there was no surprise. Market, except for that silly little obligatory dip when the report was released, just ignored it. Isn't that the report that the subscribers get much earlier anyway? I think it is, so the big players all know the figure days or weeks in advance. I guess we should expect this rally to be sold into, until the market shows us otherwise. Maybe this is just a warm-up for the "thank god it's over" post election rally.:D