Discussion in 'Trading' started by TheCaymanIsland, Dec 8, 2008.
You guys getting out of your longs here??
The pull back at the end of the day was met by buyers so we should continue up trend at least until tomorrow noon
I exited with this gift of a rally.
Some big companies lowered their outlooks after the bell.
Look at the EPS cuts from TXN and NSM.
-- EPS: $0.10 - 0.16, compared with the prior range of $0.30 - 0.36.
Longs should be running for the exit. Things are going to get MUCH worse.
Study LONG study wrong.
My signal says this rally may have mucho legs (read new Bull Market).
As always "we shall see".
But yeah took off most LONGS to enter at perhaps a better price.
This thing won't go straight up and we will need to break through near-term resistance (897-917).
Flurry of bad news coming out from Job cuts from Dow and ABusch to concerns about the auto loans from the white house. This could get interesting.
The recent shift of market "resilience" in the face of <i>awful</i> economic news is worth noting.
It is worth nothing because bad new + rally happen before recently. History repeats.
I agree that it is ALWAYS interesting to see what the market will do - even with three recent "failed" rally attempts!
Such is the beast called a Bear Market. Just don't go all-in, let the market come to you. There will be plenty of upside once it bottoms.p$
Good for you. No one will want to buy a stock after this is all done. Why bother when you can make good returns on bonds.
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