patriotic rally coming on the news 7 POWs rescued.

Discussion in 'Trading' started by qdz3, Apr 13, 2003.

  1. qdz3

    qdz3

    Are you using your full leverage on bullish positions during this lucky weekend? If not, I am sorry for that you will be missing one of the biggest patriotic rally in the year.

    7 is a magic number.

    :p
     
  2. Sounds like a "short the spike" opportunity to me.
     

  3. yes :D
     
  4. Market is fixed to rally, why not on the rescue.

    "An Iraqi policeman approached the Marines and asked if they had come for the prisoners. He led the Marines to a nearby building, Fisher reported, where they found the seven Americans guarded by at least one Iraqi soldier. "

    -CNN.COM
     
  5. Honestly, if there seems to be a "spike" I would not short it. I expect the rescue to have no significant impact on the markets, but if it does, I would not be so sure you can safely fade it.
     
  6. bobcathy1

    bobcathy1 Guest

    I am possibly looking to trade any rally that might come our way this evening too. See how late I can stay up, take a nap, and back at when 3am rolls around.:)
     
  7. Foz

    Foz

    Hmmm. Rally? I actually thought the tough Syria talk had taken on a new dimension and my first thought was the market would dip. Talking about Syria having WMD sounds like the start of a case for why the US should invade. From CBS Marketwatch:

    "Bush said he believes Syria has chemical weapons and made clear he would take action. 'People got to know that we are serious about stopping the spread of weapons of mass destruction,' he said."
     
  8. The market has discounted the war; the word now is earnings ...
     
  9. Amen brother. I am about 20% net short now (most short I have been in recent memory). IBM will meet the number this quarter, revenue will be weak, and they'll guide lower for the rest of the year. That should start the panic. I would recommend piling into the financials, autos, consumer durables on the short side, though almost anything you short except gold will do well.

    Good luck.
     

  10. I'm watching the 30yr bond approach its 200 dma on the down side . I doubt bonds will hold it much longer which should trigger the dow to break above its 200 dma.

     
    #10     Apr 13, 2003