Todays down move seems like a big con job

Discussion in 'Trading' started by ang_99, Oct 2, 2008.

  1. IDK, volume is lame, I feel like smart money are licking their chops.

    Maybe I'm wrong, but this down move seems BIG TIME over exaggerated.
  2. this mkt sucks.

    i hate congress
  3. I am not moving from any of my positions. Big money are making moves and in the stocks I like to play in. Thank your lucky stars that you are not a position trader. I need a beer.
  4. agreed, to me it seems like they are hitting this market to get better prices for tomorrow.
  5. IMO, big players are making a temper, so the Congress MUST pass the bailout.
  6. Smart money is unloading to you guys, how does it feel to be the bagholder? The bailout is not going to help. It's a bill to make the US pay for the hyperinflation over the past 5 years. 5 trillion to 10 trillion. Treasury has to take the cost now so taxpayers pick up the tab.

  7. yea right dream on.

    the long term smart money predicted this mess and will have unloaded most a year ago at or close to all time highs. they will have then shorted all the big rallies.

    rest assured smart money are covering their shorts here or sitting on the sidelines watching their P/L grow.

    one thing is for sure they wont be selling here unless its short term swing trading or intra day.

    PS: full disclosure- i am long ES from 1150. small position. stop at 1080.
  8. Smart money? You mean those hedge funds blowing up?
  9. exactly capa. the only people selling en mass here are crappy funds etc. who messed up. they are getting margin called or similarly being forced out of positions, or have been bagholding since bear stearns possible bottom.

    the real smart guys probably havent done any selling for months!
  10. S2007S


    sold off some QID way to early at $58.50 and bought some UWM under $40 moments ago....

    see what happens ahead of tomorrows job report and bailout bill.

    IF nothing goes right tomorrow I really think the DOW is headed for a 10%+ over the next 1-2 days.

    DOW 10k is coming, however we are going to see great bounces.

    I see a bottom around 9200-9500 range.

    I would be buying on days like today and selling on days like we had on Tuesday, this is not a buy and hold market....especially with these type of swings.
    #10     Oct 2, 2008