Another 10 handles overnight...now let me ask you this if you were short how would you be feeling right now? have that perspective when you are looking to trade this market!
Wow, market is up 400 points since yesterday open just on the expectation of QE3 :eek: What a circus! QE trumps all! All hail the great beard!
That's my whole point. Nothing is fixed in Europe. Just the rumor of QE3 exacerbated by over sold conditions. And no one actually believes QE3 will solve anything at all. It's just more money sloshing around into the financial markets, which will find it's way into commodity inflation.
Last Monday, there was insulting of anyone who was short and there was even talk of a market crash. Three days later, they refer to Monday as oversold. Exactly what I anticipated on Monday. The clowns have no shame.
And, like clockwork, here comes TradingUrinals with his obligatory dumbing down of the thread (as if it could go lower).
I hope people still remember what a down market feels like, cause the sell off isnt over, its just kind of beginning. When headlines read that they want BUBBLE ben bernanke to come in and "save" the market they mean they want more QE so that the market can create that same wealth effect it has been doing for the last few years. Seems anytime the market takes a little step down the bulls cry and ask for more QE so that stocks can continue their upward climb on nothing more but than hot air. How long do you think this can possibly continue for. How many more trillions do they need to pump into this economy, I think its been over $14 trillion so far and counting.
Thats exactly what the market is behaving like. ITs addicted to the stimulus and the QE Bubble ben bernanke has thrown at it.....it worthless without it. This market cries when it doesnt get what it wants and every time it does cry Bubble ben bernanke is right there to provide more worthless dollars.
More QE was not a secret. I believe there was a fundamental shift in Government / Union perception out of Wisconsin. The Wisconsin electorate have voted for more fiscal responsibility by a good margin. This may be a fundamental change just like the charts show the November 1994 election triggered the market into a huge multi-year rally.
Have you ever tried just trading the action as it's presented and NOT being obsessed with all the noise?