depending on the sector, you are right. there are plenty of industries booming. I dont care if xlf drops another 20%, oil service, canandian sands, ag are all buys no matter what
No where capitulation yet. IMO. Not even remotely close. Too many bulls, and too much bottom fishing right now.
There is no capitulation yet, the dow being down 300-400 isnt capitulation, now if the dow loses 500+ tomorrow and opens down another 500-1000 on tuesday morning than I would say capitulation is near. These little baby steps the markets are taking to the downside IS NOT capitulation. These markets are being propped up constantly by the federal reserve, why they cant just let the market take its own course is beyond me, they continue to step in to save this market, this can only last so long. After seeing the federal reserve step in on a sunday night and drop rates is a sure sign of desperation.
Were not you bullish before Stock_Trad3r? If you were, and you are now bearish, it would mean that it is time to go long.
MAN! This is pure comedy! Can't even take nap on a sunny southern california afternoon, without waking up to these SILLY headlines: JPM to buy BSC for $2 a share - (remember they wanted to close the deal to avoid any major sell-off in their stock before Asian markets open.) Then StckTrdr posts (gasp) that this is going to be an UGLY Monday - Then a headline that the FED makes an emergency cut - JUST TWO DAYS BEFORE THEIR ANNOUNCEMENT!! [oh I see this is to the discount rate - perhaps they think this will have again the same false but effective impact on the market as it did in August, lol]. If this doesn't rattle the markets I don't know what will. Sounds completely DESPERATE...and more major fallout waiting in the wings. Now I must get back to see how much they cut and how it is affecting my overnight futures positions! Pure comedy unless you are worried about the US financial industry (which I am not). But I am concerned that these ba**ards will do anything to perpetuate their greed. pS Update - ok a brief pop (that I missed to sell into) and then the sell-off. . . I have confidence in the Fed - yeah, right!!
This is beautiful sunny day here too... and I am peeling oranges on my granite counter top and they ware so good... they water my mouth. Feds and Bernanke are not desperate, they are flexing muscles, showing you they rule with an iron hand. Treasury's Paulson already told you this morning " whatever it takes"... that was a big hint in there. The markets will surge...green dropping into my accounts.. how about you? How short are you? Sorry to see you cover in the mornings when Dow opens up 400 +.... Ouch@ That hurts#%%%