it matters little what you are i think. yes especially with earnings topping and warnings everywere. it's like the market could care less and wants to hurt the shorts. i can't see us falling much till after labor day. but i still think we have big downside in sept oct period. this bull market is the 3rd or so longest in history and were standing at 853 days the 2 nd longest period ever without a 2% closing dow day which is startling
I try to avoid predicting and getting commited, but I don't think so at all. Fundamentally I don't see why it's going up and half my stocks are still pushing against sellers, but the charts indicate direction for once. Once this month began I started watching for a higher low in the S&Ps below 1260 and then a break past 1280 for me to feel like there's any direction at all. If the DOW climbs past 11,500 I'll feel more committed. But I shouldn't write this down as it will influence how I act. Heh.
i think we have actually bottomed and will rally into the end of the year. my 2 cents. i'm mostly a daytrader so i actually don't care too much but that's my opinion.
problem with the long side is we're so long in the tooth afterr 4 years of not really falling and being up 4300 dow pts.the seasonality isn't good, hurricianes coming and the worst thing is the mid east. lebanon could explode in seconds and iran is coming to the fore front. also earnings are starting to plateau as warnings are coming in higher than at any time in years. last 2 weeks lowes,hd,dell, nsm and on and on. this rally from es 1229 a few months ago to 1307 is meant to knock out the shorts before we can really let go.but we could still make a run at all time dow highs if the street wants to
http://www.charthub.com/images/2006/08/21/Untitled_1.png Yes, the higher low on the 11th was a great hint at what was possible in the week ahead (too many SHORT's then also....everyone was bearish going into the CPI/PPI numbers). Monday was a great "gap-n-go" day and we have not looked back since!
The Market really is never Wrong. If you really think the current price of Mr. Market is wrong, I m pretty sure you will lose. TH\he market is a very forward looking Machine. You best think 2 steps ahead of the next trader or your Opinions will Doom you. I say this in all sincerity, not as a Bash of your opinions. Just find a way to make money, not be right...Trading is not School-College.
This made me laugh I actually think that stocks will go higher to end of year. Earnings are up etc... I think this down period has been due to fears of inflation rather than facts.
Don't listen to those permabeasr ! S&P will fall to 1260 max and then will we see 1320-1330 by year end.