me too! I don't care which way it goes. As long as it goes. That December sideways crap was hard on me.
I had one of my best days on friday, so I'm also looking forward to seeing a few opportunitys to catch some nice moves this week
No one has stated the obvious: We are in EARNINGS and earnings have disappointed. F and BAC both reporting earnings on Monday. Hold on to your hats.
We already know earnings are gonna disappoint; after the overdue and overdone selling of last week I expect traders to adjust their expectations exactly like they did last year during the same period. Keep in mind that so far 2/3 of the companies listed on the SP have beaten estimates, so things are not so bad as they seem.
Also, fresh data on the economy and Fed comments that followed their release indicate that the economy is more rigorous than what was thought last fall when markets focused on soft economic data. If stocks only fall moderately or go up Monday, I think we'll then have a good rebound throughout the week.
agreed. also in response to other posts, i too held positions overnight at friday's close - mostly energy, and a large GM short.
you hit on an important point: expectations. earnings haven't been bad at all, in my novice opinion, analysts are to blame. If aapl has it's best quater ever, and the stock plumets, that tells me that expectations were out of line. hell, i can set arbitraty price-targets and raise them 3 months later when the stock exceeds them only to cut my rating on the issue when the company beats earnings and the CEO doesn't channel the spirit of christ for its next quarter. should have been an analyst.....
every single position i bought at the close friday was profitable. now flat hoping for another setup.
dumped my GM short early when the F news looked to be taken positively. bulls will be in control the next few sessions - especially with etrade and ameritrade reporting the next few days. the old-school brokers have already showed weakness in their trading divisions, i am expecting that weakness to show as strength in the online brokers. oh, and the 6.00 amtd dividend going ex on wednesday is nice too.... =)