its funny how we opened down yesterday only to go positive a few hours later. Today we open up an of course see no dip only a straight run since the 9:30 opening.
I see plenty of selling, but its all being absorbed. This is about the most sure thing you could have bet on. If you did not catch this move in the Dow from 11300 shame on you for not doing your home work. I would start to liquidate as we approach 12000 on the Dow.
Just to clarify a couple of points from the quote above... are you saying you caught this run from 11300 or are you in the group that is shamed? I ask because if you caught the run shouldn't you have said, "I will start to liquidate as we approach 12000?" Which raises another question: why not wait until the market or your position starts to tell you that buying has abated or is abating versus picking a point with no overhead resistance value other than psychological?
Although I beleive the Dow may move higher, volume today was 80k in the Dow futures, had it been over 100k I might have stuck around. I will try and catch a retracement back to 11700.
Say it ain't so a down day. I just dont belive it. GE earnings suck, retail sales suck, but who cares buy buy buy is the mentality. Bad news is ignored, good news is bought hand over fist. When you start to see good news ignored and the market cant seem to move higher, look out folks.