Setting up for another drop?

Discussion in 'Trading' started by rc5781, Jun 2, 2008.

  1. rc5781


  2. I am going to take a guess and say that we go up tomorrow assuming no really negative news.
  3. market seems to have rebounded off May lows with some conviction
  4. These markets are going no were fast. Just bopping around to keep the commish comming in.

    Sideways with a slight bias to the down side. Shorts cover fast, longs take profits fast. That keeps us in this going no were pattern.

    The SP500 stays in its 1370-1420 range. The Dow 12000-13000 their abouts.

    After the election we head much lower.
  5. A surefire short?
  6. Yep, especially if Obama becomes president
  7. I'm in the sideways camp myself. If unemployment doesn't explode to the upside (Friday will be another good datapoint) and crude oil prices at least go sideways for a while I wouldn't rule out much higher equity prices by year end.