Discussion in 'Trading' started by Aaron Copland, Jul 8, 2008.
Lets see if we here it tonight from Kudlow.
We needed some upward movement to fall to the next level.
Today's move is due to oil being down. Yippee our problems are over with oil at $135.
Oil has sustained technical damage, and could easily drop $20 to $30 in a week.
Watch the rush to the exits if it drops again tomorrow.
Pain for the late comers.
Time to book profits for those long all along.
y watch cnbc?I watch bloomberg and mute it for most of the broadcast and turn off the tv when market is inactive or flat...Way more peaceful...cnbs is just a bunch of gossip hags punctuated by some headlines.
Don't confuse short squeeze with bull market.
Shoot the exit doors are closing, thanks for the ride.
31 cents lower yesterday and the spooz would have been at 1252 and the bull market that began on October 2002 would have officially ended. And then I would have had to leave elite trader for good. 31 cents. So close, and yet so far.
Now the markets are roaring. Hmm no one seems ot care about ambac anymore. RIMM and AAPL. GOOG and MA. POS and PCX.
I'm still long. Not selling.
LOL Not surprised.
While the end of the major bear phase we are in is at least a few years off, it was nice to see a little rally get underway. Oil will be down for awhile before it goes back up after the election. Unfortunately high oil isn't the driving force behind this bear, but merely one of the symptoms of a virulent economic disease.
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