Anyone check out BIDU earnings, down over $50 a share. That stock reminds me of 1999. Why is this worth $400+ a share.
So I AM only a college student, but I am trying to use these message boards as a place to learn and grow as a trader, and I will try to talk about what I am doing so that I can learn and be more successful. Being a student isn't a bad time to learn how to trade. I bought some URE at the close of today thinking that we may see a slight bounce tomorrow, at least during the open. This comes from looking at the historical probabilities after seeing two days of the S&P 500 down more than 1.0%. Also, the 9% spike in the VIX should have corresponded with a larger drop in the markets. There are still some bearish signs in the market, and I think this video explains them pretty well: http://www.freetradingvideos.com/vlog/default.asp?category=1 If I am wrong, I hope cut my losses early and learn something. If I am right, I hope to learn something and make some money.
Tomorrow big day for the market, GDP, Continuing Claims and XOM earnings to move the entire market tomorrow, market has taken quite a drop from +10,000. If GDP comes in above 3% look for some upside movement, anything under that or even under 2.5% and the sell off continues. Many bulls wondering where the rally went. This is when new money put into the market above 10,000 is the quickest to sell because of fear of seeing the market deteriorate even further.
Fasten your set belts, because we are in for a bumpy ride down. Of course the market isn't just gona crash, or sell off 600 points in one day. It's going to get violent with the reversal runs against the shorts. BUT SHORT IS THE PLACE TO BE RIGHT NOW! IMHO question is, can you take the heat. Obamanation isn't going to go down like a limp whore. Pump and Pump more money into the system, they will call out the talking pundits, the WallStreet Money Managers will scream BUY@! its a pull back...perfect time to get in. The choice is yours. "You take the blue pill, the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit hole goes."
Yes, when selling happens, it happens fast. From the same link I posted up above, D-7 said in his video tonight that markets drop 66% faster than they rise. Could see a sympathy balance tomorrow, but I think the direction of the day will be decided in pre-market.