"I think alot of shorts have been rinsed out in the last 8 weeks ".... Dream on. It's all down hill from here baby. But it may take a while. We do have an election coming up. We are all short still, aren't you?
the dow chart STILL looks awefully bullish, as it stands now, imo. i hear the bearish sentiment all around as well but i just dont see it in the chart.
diligent wrote: "the dow chart STILL looks awefully bullish, as it stands now, imo. i hear the bearish sentiment all around as well but i just dont see it in the chart...." Well, if you are a daytrader then the technicals are pretty much all you need. Though i would say that even then you should stay abreast of the economic winds. But for anyone other than a daytrader to not read widely and stay up on current events and the economic trend is financial suicide. I am just amazed at how many "traders" out there are trying to trade on technicals alone on an other than short cycle basis. I am fortunate that they are out there, however, because these are the folks who line my pockets.
mmmm still long, perhaps Ciatdel or Citi group will be in to help out!!! Housing figures on Monday will push Z S&P to 1311!!! Got an even bigger bull than you bailing yesterday.... http://caldaroew.spaces.live.com/ Panic, don't panic, no really panic!!!! Hold on tight!!
Investors' view of the market is like an exponential moving average. They're most influenced by more recent market action but their mood about the market goes back, oh, let's say 6 to 9 months. Therefore, plenty of people are still steeling themselves for another selloff like the one in early summer. Also, markets go down faster than they go up so it's natural for short-term traders to root for a quick move that they can make big money off of. It's funny to hear the moralistic tone of some of these bear calls, though. Some people seem to think it's immoral for the market to be optimistic about the future. If the market's rallying, just roll with it; don't get get all outraged and indignant because the markets aren't cooperating with your short bias.