Lots of risk Friday. But If we can finish at the highs on Friday even if that's a neg overall number we will be fine. If we swoon Friday and Iran talk heats up... I might just start selling stable stuff as well as risky which I'm already trimming. *Rotating into small positions in BIG companies. >BOUGHT 250 CELG > BOUGHT 250 QCOM If these can be up 3%-4% in short order will double or triple UP. If these break down I'll take what's left of my toys and go home. Happy Hunting Folks.
If you buy the V bottom theory tomorrow will have to be a very strong up day. DOW UP 179 after being up 200 for a while. I personally feel it.
Is it possible the market gains back all that it loss and a bit more for a new record high in only a month??? Sure its possible, but even if the markets did take a jump back to 12780+ in the back of everyones mind would be yesterdays selloff and how careful one needs to be to protect themselves from a 2-3% selloff in a single day. There are sooo many new investors in this market hurting from yesterdays plunge im really suprised to see the market up today as much as it was.
AND WHY is CNBC so worried about this drop....they have had numerous talks hour after hour on what to do with this drop..let the market do its own thing.....also funny how they now focus on the Nikkei 225 and all other asian markets all of the sudden. Does anyone remember cramer saying not to worry about the over seas market that if they were to sell off it would not have an impact on the US markets
Me at 1427-1431 on ES go ahead and try your V bottom day theory on me. All I can say is tighten your stops up if your long and we hit that area tomorrow. We will retest yesterdays lows after hitting that zone. 75% my ass... what kind of statistic is that. Every day in the market is unique...especially this time.
cnbc said its tough to find someone who thinks the market will end down on the year....still too many bulls roaming around.
I am curious to see how the next few weeks play out. Usually before the start of a big move the commercials are positioned on the right side of the market. Currently the tilt is only mildly bearish.