the market action is very similar to 2000

in 2000 when stocks tanked,we'd get a few days of not stop bleeding followed by a few days up short covering that suckered everyone back in. then we would get days like yesterday and today with extreme volitility and bamm;more selling and new lows.

 

i dont know if the market is changing trend, but it is definiately wondering about it

not every severe chop means a change of trend, but nearly every change in trend is done with severe chop

fall 2002-spring 2003 was like that

 

Just trade what you see, not what you think.

 

IMO we can run here, but I don't think we make new highs. My system got me long at the close yesterday, and I sold about 1/4 and am using trailing stops. The internals are still God awful, but it is vacation time, so the mkt may have a few more days in it. I'm waching oil right now. If it breaks 70 i'll sell it for a trade.

 

the markets arent going lower..nope no way

 

internals were aweful yesterday, but they improved significantly today.

 

You have no clue.
In 1998 the market dropped 13% in 21 days and that was IT.
Sound familiar?

 

kudlow's last statement: "homebuilders are going to recover at some point" wow is larry kudlow stocktrd3r? I'm not sure who to feel sorry for!

 

larry kulow is still on drugs as far as i'm concerned.