Discussion in 'Trading' started by chasinfla, Mar 13, 2003.
Like Robert Rubin, Marc Rich or even the humble Cramer?
oh, boy, I am flattered. thank you thank you.
mondo, i didn't see your news post until just now.
call it a patriot rally if you wish. i call it major big time short covering.
the way it originated in the futures is a little funny.
A primer of market moves, courtesy of CNBC:
1.) Short Covering
2.) Bargain Hunting
1.) Profit taking
2.) Earnings jitters
That's all you need to know!
Hip Hip Hooray!
For brother ARBs and options guys! And let's not forget to thanks our fellow short sellers...
gotta give credit where credit is due!
hip hip hooray! hip hip hooray!
That's not exactly right. Today WAS profit taking!
Too bad for the average investor, CNBC never explains it that way.
Whole `nother animal.
Food for thought... Obviously a bunch of folks wanted out of their short positions today.....This is the second or third time I believe that when the VIX touches 40ish, we get an enormous bounce.
1. At what point would you guys start fading this if we get a bit of late followers tomorrow....
2. Do you think people really want to go long over a weekend??
3. We have had a couple of one day rallies like today in the last 18 months. You know where we open on a gap up strongly...and go to higher highs into the close....
other than volume indications...what other tools do you guys utilize that you find useful that maybe provdie a heads up that we finish strong on a day like today instead of reversing................
One other thing I greatly miss from 1999....the last 15 minutes today were so beautiful......I was gazing at CSCO on L2 & noticed a block fly through for 250000 shares @ 13.25 on an uptick above the current ask...........within 5 minutes CSCO popped to 13.40ish....You have to really feel for that person....Its nice to make nearly $40k in that amount of time. I am sure it must be quite a rush to unload a position like that into the close.
just curious but does anyone else wonder if we did not just see the war rally?
at least the meat of it
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