the sell off this past week has been on very heavy volume and that shoulkd not be taken lightly. notice the volume to 14k was on relatively low volume.
Same thing with the drop in late Feb and early March--much higher volume. When the market snapped back on lower volume, the bears kept saying it was a sucker's rally...until they had to cover their shorts on those "false, low volume" breakouts to new highs. But yes, it was a well engineered panic at the close. I guess those folks haven't seen a bubble/ easy credit cycle before (S&L, junk bonds, etc.) and really believe all the hype.
stock_trad3r, you better fucking be buying this falling knife. where the hell are you for your blah blah blah commentary
I'm no apologist for stock tradr, but he sure did a lot better than all the bears here who shorted the S&P at 1380 in early March and ended up wetting their shorts a few weeks later.
Funny thing is I put him on ignore last week and it is the best thing I thought I had done on this site. Now I hear he's AWOL and the market is tanking.... typical.
Stubborn bears and stubborn bulls are what makes the mkt what it is. My problem with ST is not that he made money on the up move. More power to him. My issue is he has zero concept of risk management and he is ultra biased to the long side and he wont shut up about it when the mkt is going up. Of course, he goes MIA when things look bleak. The problem with guys like him is a lack of flexibility, humility and rational thought. But the mkt ALWAYS ends up punishing those who do not listen to it so I guess I should let the mkt handle Mr Bag_Hold3r.