The US market is pulled higher by the markets overseas. Maybe they are doing just fine now even though US might be in much worse shape than in 2007. Maybe US market is just following recovery in Europe and Asia.
gkishot, maybe you are right. The Chinese have some money last I heard and might be investing here. I am not sure if they know what they're doing. The vice pres of Bank of China says there are bubbles everywhere. We used to be the leader in bubble blowing, but maybe that has changed like everything else lol.
You do understand that when many think the markets are overbought, that this is a bullish sign, right? Whenever "many" people think something, the chances of it happening are low. If everyone thought that it was going to go up, I'd be more worried. Either way, just trade the price action and be prepared for either scenario.
Pardon my verbiage... 'many' people probably think the markets will keep going up as well. That is the reason we've been moving up through many bad news... rising unemployment... etc. I thought overbought was more bearish... as long there isn't major momentum pushing up. Either direction... I'll take it. As I'm typing this... the S&P is approaching 1045... It will be interesting if bulls can keep push past that.
QQQQ 41.48 now. 2% move against you in less than two days. Time to run away for another month and come back with another top call then. Eventually you will get one right.
why pick tops in a one-way market?!! why aren't people starting threads sayin "get ready for the next leg up"?. Much much less chance of looking like a fool like this guy has, lol
The bulls on here remind me of the same bulls from late 2007.... Everyone should know markets dont go in one direction and of course its after they have dropped 20% do they realize this, remember markets take the stairs higher and the elevator down. Weeks of gains can be lost in hours. It will come with a little patience to the perma bears, it always does.
It ain't that simple. You were a bear steak in the Fx when you called a bear leg that resulted in a 1200 pip upthrust. Now you are on the BBQ again. You have some good ideas but you are repeating the same mistakes. Use those good TA ideas to discover how to correct this error. This was an amateur mistake technically but look at the fundamentals. Who is buying?