I agree. This is a clear sign that accumulation has begun. It is clear that the Feds have decided to backstop all large financial institutions and their debts, to whatever limits that are required. It is also clear that they are developing fiscal and monetary policies to help homeowners rollover mortgage debts at substantial savings to homeowners (the cost being borne by taxpayers and savers). Critical industries such as auto are also being backstopped. On top of this, the government has announced massive fiscal spending to jump start the economy. Plus, corporate input costs will be substantially less next year, thanks to the deflated commodities. Year-over-year comparisons should be very favorable. Who knows, how quickly the economy will recover. But the Feds have made a decision that they will print what ever is required to avoid deflation and recession, so really the downside risk is nominal compared to the upside potential. As long as time is of no object (and have no timeframe in mind), the rewards for a bullish play at this time should be substantial.
===================== That's rich Hard for some people to believe Paul Tudor Jones quip''losers average losers''. About the only way for that green bull to work is; wait until all the red shorts start covering, fund redemptions slow.......; then help buy ,when the polar bears buy to cover . I remember when i was a youngster, my dad & mom were looking at some RE with a REALTOR. I was afraid, but asked the REALTOR if i could have [free] a green rock @ an empty house.So the REALTOR said yes, i sold that green rock to rock dealer for several green USD.LOL Its still a free country however if that young trader wants to buy,green candle/help his ex ; he may want a strong sector crossing the 50 or 200m day moving averages, or both .
I might be not very accurate in verbalizing my thoughts but this market really looks exhausted. Just wait couple of days... At least I will not go long until I see one more powerful move downwards with strong rebound and not that anemic type of action we had this friday
Let me get this straight . . . The market opens over 200 points lower on Friday and comes all the way back into positive territory to close up a bit on the week after digesting one bearish news event and economic indicator after another all week long ( not too mention a $50 billion dollar fund going under ) and you call Friday's tape "anemic"? That's funny!
If both moves you've just mentioned (down 200 points and then up to +100) were on bigger volume I would believe it is strong. So what I mean by anemic is lack of volume. And that's why expect leg down next week Anyway, we'll see
You are just too bullish, give up and look at the bear roaming wallstreet for another 5-10 years because there will be no catalyst to help this economy out as the entire economy was built on Fuc$king MONOPOLY MONEY for the last decade...
If you think making just 50% profit on your capital after an entire year of work is something to even be ''ok'' about, then you seriosuly should find a new career mate!! lol