Sorry I Ruined Your Black Panther Party

Discussion in 'Trading' started by Comanche, Jul 31, 2007.

  1. This action is not looking too convincing to me for the bull case. There has been a bounce off of the lows from last week, and momentum has died here. If the herd of bulls were actually buying this dip, we would be trading higher and have good momentum. What I see is bulls still holding, telling everyone else to buy this dip, wishing it higher.

    This bounce looks weak now in my opinion, leading me to believe that we are finally entering into the long overdue >10% correction that this market has missed.
     
  2. You may be right, Forrest. We'll have to see by Friday.
     
  3. I hear the same thing every time. After every correction and subsequent bounce we ALWAYS have talk of "dead cat bounce", "just short covering", " low volume buying", "not convincing" blablabla
     
  4. have u bot today big guy? or just wishing it higher?

    I can tell you I have shorted es at 1488.75, bot 20 spy dec 147 puts at 5.70, and bot 10 us steel jan 100 puts at 9.20.

    trading what i see and sharing my sentiment.
     
  5. Yeah, when the markets bounced back up in March, the volume wasn't even close to the big down days.

    Of course, the initial upmove stalled and there was a retest of the low, but after that (a near textbook double bottom), the bears kept saying it was a sucker's rally...until the indexes blasted past their previous highs. And all this occured with relativley light volume.

     
  6. Comanche, I didn't mean that I hope you lose money. I'm just saying that every time we took a dive in the last four years I heard arguments why THIS TIME we were going to hell for real. Every time volume was unconvincing, every time the bulls were going to get killed, every time there it was time to "stop buying the dips, and start selling strength". I am not calling a bottom and not a top either, I think the jury is still out. I am trading accordingly.
     
  7. I hear you Mak. I am not looking for hell, (yet). I do think we finally get at least a 10%er this time though.
     
  8. Bring on the carnage. Anyone who trades loves the volatility. Bulls, bears, who gives a damn. Give me action.
     
  9. give me money

    give me green

    give me less volitility and more upside

    no more selling please
     
  10. sell your whole portfolio. reload later.
     
    #10     Jul 31, 2007