Quote from stock_trad3r: The consumer is very strong. That comes from lifting weights... ...We're still in the smartist era. Does your brain hurt when you make such thoughts?
Market will have a follow through day this week a huge rally that will take out 200 day moving averages like paper mache dolls in the wind. Low volumes, negative sentiment, indexes sticky to the downside, oil retreating.....and SPX sitting on 1400 level like a sentinel.
Evidence upon evidence data coming in to show there is no recession, yet the doom and gloom club is still basking in its cold January depression.
Yes, I dough not noe how to re-spond. Dirt is good with wa-ter. You can maik mud-balls to put on your serial. Try it. I doughnut under-stand wat U R trying to say. U R muchmore ad-vanced than I'm.
I have just received confirmation that Hedgefund Trader and Stock Trad3r played a serious game of dick-to-dick last night. Best of 7 series........they both came out winners
Unemployment is still very very low by historic standards and as long as that doesn't change the bear theory of the "weak consumer" that we've been hearing for years now will just not materialize.
Here is the thing about Stocktrader. Some of his picks run, some of his other picks dont run. The picks that dont run will never be mentioned again and those threads burried in the pile. When someone reminds him about his bad picks, then he simply makes the statement that he took it out of his portfolio. When he makes calls like this, same thing. He will either be successful or not. If he is successful, then this thread will constantly be placed at the top. If he is not, then it will be buried. The overall market is at a point where it could choose to go higher or lower at this point. I would have to say the bias is bearish, but the way things have been trading it could definately go either way. I stole this image from a youtube blogger. This image depicts the multi-year S&P chart with monthly bars. This is a bearish chart. The current run resembles exactly how a bear market works. You have wild dumps and then rallies back up to a certain point followed by another wild dump to an even lower low. We might be in the first series of bear market rallies such as back in 2001. However, everyone sees this. Everyone is constantly on television and in articles stating how bad the economy is and how we are in a bear market. Many notable traders are expecting the market to dump. When did the market ever dump down when everyone was expecting it? Well, Im not going to make a call. I say if the market slides then short it until there is a noticable inflection point then go long until it rallies back to a moving average or other pivot point. If it breaks upward, then you might want to go long. By the way, I stole this image from the following link. http://www.youtube.com/watch?v=AcA4EYIvfeM