There won't be a relief rally this time:

Discussion in 'Trading' started by capmac, Oct 13, 2005.

  1. capmac


    The answer is simple, everywhere you look, message boards, CNBC, etc EVERYONE is looking for a bounce and I mean everyone.

    You all know when everyone is leaning on 1 side of the trade, the market goes the OTHER way to inflict maximum pain.

    Every single morning for the past 7 trading days, the market has gapped up as if this recent selloff was meaningless, i.e. no fear, no big deal.

    Instead of fear, what you see is: "When can I buy more on this dip?" When was the last time the market gapped down big? Bottoms don't occur in these situations.
  2. change of psychology: strength is met with selling
    that's what
    that's bear market behaviour, same with big selloff in individual issues on earnings,
    warnings etc.
  3. karol88


    i totally agree...I thought there will be a bounce today as well, and I was ready to cover my shorts from yesterday...but hey, to my surprise they worked out fine
  4. Why couldnt u stay on my thread. You stole it. lol.
  5. lot of panic starting here. i think it is refco related ie other clearing member firms.
  6. Brandonf

    Brandonf ET Sponsor

    Your right, we will just go straight down to zero. Dont pass go, don't collect $200 :))
  7. capmac


    There is absolutely no panic at all, more ho hum action. Lots of semis are up, AAPL up big, etc. What fear? Everyone is looking to buy this dip in anticipation of the Christmas rally for guaranteed easy money.

    The panic will start when DOW loses 10,000
  8. people are starting to pull bids, panic is increasing...
  9. we are darn close to a tradeable bottom, thanks to threads like these.

    BE READY!!!
  10. im building my positions here.
    #10     Oct 13, 2005