dont worry its going back up, this is a 32 point drop, thats nothing. Dow back in the green soon. Look at RIMM drop, guess everyone is scared of the new aapl phone, hahaha
Come on guys. First, go to www.stockcharts.com. Second, go to market summary. Third, pick a few indexes and show the 50/200 day moving average. The small/mid caps are tiring out. The large caps are holding in there, but not making any new highs. There is a chance they will tire out. Not one of the index has made a new high for a little while now. Now we are consolidating in the large caps for a new trend. The small/mid caps are in a slow downward/sideways trend. I know some of you guys are allergic to look at these fundamental charts for some reason. Honestly, they are not going to bite. I have stated my thesis here before. There will be consolidation/downward channel until February. Thats when CNBC will declare the correction to have ended. Then April-May will turn into bear market mode and thats when you will see the waterfall selloffs. Every year, there are usually two corrections back to the 50 week moving average. We are past due. Markets do not just keep going up. I know someone told you something different, but Im being honest with you now. At some point, the markets do correct.
You don't need to shake very hard. All you need to do is take out the stops slightly below last resistance.
Amazing how many blind bulls we have here. Just like in August everybody "knew" they'd get rich by shorting everything blindly now it seems all you have to do is go 200% long QQQQs and take a nap. This rally is tired. You can see it in the MOMO names, Emerging Markets, Commodity stocks. Anything fast moving is losing steam, gyrating to a stand-still. Nobody knows if a major decline is upon us. Maybe nothing will happen and we will see more upside. However, one thing is clear: It was much easier and safer to make money on the long side from July - December then it will be from this point onwards.
I disagree. You are looking at the past. It's easy to see that it was a great hold from July to December because you see an upward trend, but as it was happening it was not that easy to see. . In august people already started shorting the july-august increase. In september people shorted again because september had new highs and september is typically the most volatile month of the year. Since there was no correction they shorted in October, november, and december. Everyone felt the market was too high as they do now. When the consensus thinks the market is too high, it goes higher.