Ok, so we know the targets on the market But sit and think.............! What is it that we dont know What do the big guys doing all the selling know What the heck is coming down the pike to make them sell so hard I say another bank failure................ remember I was in the industry for 9 years, my god the junk out there, most would not understand how much, however what ever you think, times that by 10 now you get the pic. But in trading you have to just look at your indicators! they will always tell you the truth
I look at institutional selling as an indicator, Joe and my take is that you saw selling when the previous extreme levels we hit and some leading up to it. For the most part the Mar - Jun rally was on low volume and today is relatively low - thus far. I think the big-boys will move this thing up soon enough - after the little guys panic. Irregardless of what more big stories are out there, at some point the market will discount it all. Since 2003 we've been moving up. When this correction plays itself out, we'll continue. That is unless you believe all the Gloom & Doom in that the dollar is going to zero, oil is going to $1000, banks are gonna all topple, FED be shootin blanks, etc. etc.!!! gA So what are the targets below 1241?
I hear ya, you see how I caught myself going into a rant 1238-1236 unless double bottom around 1242 but you know how markets can be, I got this today from someone I trade with Heavy volume selloff commenced a few minutes after noon ET. Prime brokers send out their margin calls @ noon ET each day. Margin calls can be like a waterfall
Yeah I hear and SEE ya, but as long as you stick to your well-worn, time-proven indicators - we stay out of trouble. My margin schedule requires me to add 2NQ (short) to one account at this juncture. I do not necessarily have to "time" when in the range. . . but, you say "unless we double-bottom". My take is I can add now or wait for a bit of a rebound (if we get it, lol) so where do you see upper resistance (good entry point)??? Or are you saying if we bounce again that this is a moot point and the bottom will hold? I don't care if it holds today, I'm just looking for a good entry target, since for now my bias is we will continue to "swing" lower. gA
fyi, could this last move (lower) be a fake? gA I guess not - but I won't chase at this point. well maybe (lol)
yeah? What about - BULLETIN >> FREDDIE MAC SHARES FALL 20%; FANNIE MAE OFF NEARLY 15% Joe: "triple-bottom" today off 1242 area??? or burn!!!