he better hope for a reversal on light volume friday. this mortgage mess is much worse than everyone wants to admit.
Market is rebounding huge like I expected it to. I don't think anyone saw this much upside coming on just a half day. While it may seem like a rough week for longs, we're only down .5% from the close two Friday's ago. A measly decline of just .5% over two weeks for the dow. As I have said many times I am 100% bullish. There is no subprime or credit problems. The stores are packed, consumers are spending huge while maxing credit cards, global growth is huge, the dollar is falling, oil is rising. All of this is bullish. Boo hoo hoo no credit I have no credit and no liquidity. Boo hoo gas is $3.50 boo hoo hoo war in Iraq gone on for too long boo hoo real estate bubble..boo hoo Oil will go to $110, gold $920. The market will rebound HUGE in December. 2000+ points on the dow in just 1.3 months. Low interest rates, falling 10 year note are both very bullish. Slowing growth is also bullish. The stock market will keep rising due to these factors. DONT fight it. The upside is staggering. Globalist smart stocks like GOOG RIMM BIDU GS MA AAPL VMW FWLT EWZ FXI will continue to lead the market higher. Favorite sectors are: tech, materials, construction, shipping
Always a fan of the underdog, I'm going to have to take stock_trad3r's side of this arguement. This market is trying to put in a bottom, and when it does, it's going to ram it back so hard on the Shorts we're going to be seeing unprecedented rallies. Good trading, JJ
I agree with a rally. I'm short EURAUD out the wazoo, and it doesn't like the carry trade, which in theory would return with an equity rally. But what do I know. They could be completely different points as far as I'm concerned!
IMHO, Wed 11/21 downwardly trending market represented capitulation selling, while bottoms are always established in hindsight, I'd say we're near one. Good trading, JJ
Don't be a fool Jam. Wed and Friday mean nothing. We have to wait for at least a few weeks more. It looks like down, but what should you care, you're a trader! Stk _twidler of the other hand, well, i would not want to be in his shoes.
As most holiday weeks this weeks action could easily be deleted from the charts and we would lose very little value in future analysis. Monday will bring us back to business as usual whatever that might be. Anek