I think most would, even though we make money on movement up or down, this market is depressing everyone I talk to and it is having a very negative effect on there spending habits and overall way of looking at things You can see a rescission unfolding right in front of your eyes So I am with you on your thinking on a wash out bottom however it may not happen this time So far anyone that bought this market and did not take quick profits has been liquidated
Typical late-stage bull market action. People buy thinking that stocks can only go up. . .we get a moderate correction and a short recession and they blow out their accounts never to return. The few that survive with their psyche intact may lose some money (hopefully didn't risk everything, since they had to know this would be a prolonged learning experience) but will be better for the wiser from here on. Live an learn.gA I am pretty certain we will soon see capitulation. But in the meantime, I am looking to add short NQ contracts if this bounce can approximately double.
Careful now..............lol Fannie & Freddy are getting backstopped @ 2.25 % for any money borrowed from the FED plus a large increase to there already 2.5 billion credit line This is what is causing the run up in the futures pivots are 1252, 1255, 1264, 1270, 1274 for ES Line in the sand is 1245.50 1239, 1234, 1230,1225,1218,1215 break out 1246-1264 break down 1231-1215
ok, see you there in the am I will pray that the market holds this rally for you and your long positions I am sure you see the news out about Fanny & Freddy getting 15 BILL. from Fed They really are to big to fail.........Yeiks if they ever do
Ty for the prayers Joe. Yes I saw the futures found the reason and am also cross fingered on this. I got into this mess...get me out lol. Looks like tax payers getting the bill again. But that seems the norm in our america's.
<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/f0Z2_tk7J6I&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/f0Z2_tk7J6I&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object> S&P Numbers for Monday
Joe, where is your trading room located...I haven't seen any thing posted where it is, but see people talking about it..thanks scott
"Wall Street will get a better sense of how concerned investors are with Fannie Mae and Freddie Mac's future immediately Monday morning. Freddie Mac is scheduled to hold its weekly debt auction beginning at 8 a.m. EDT. The auction closes at 9:45 a.m., shortly after U.S. markets open." Anyone know how this went? Seems the "heady" gains by FRE & FNM were quickly relinquished. Now that we are at the "line in the sand" we shall see where we go from here - go daytraders, go! pay$