After we dropped quite sharply from Nov top a bounce could have been expected. Now that the bounce is in progress the question is whether it has legs? I am guessing that the market may go up for a few days but will attempt to retest the recent lows shortly. Anybody has a better analysis?
Watch for trading day #12 after the recent top for possible insight. I think I like twitter. If it was not to shortie and some other fine folks/friends in here, I would fire ET and head to twitter. In addition, my ET threads are quoted on twitter. I could not believe it. In here some shout at me, over there same ET posts and threads are treated with respect. Forum owner: I need a cut my friend. PM me. If you cannot let the green stuff move away from you, how about a blank check for me to (when appropriate)put links for my sites on here?
I voted bullish, but a crash is authorized. I repurchased what I sold Thursday, gained a couple of free shares. On two accounts, I sold longs at higher levels, but I didn't expect us to finish as high as we did. I'm always partly long.
Flat. All we're doing now is bouncing around under resistance from the zone formed by the summer 2008 zone just before the big break. One fine week we'll all be astounded by a break over that zone. GDX has already broken that line, and at its lowest point this week revisited it and bounced off it. Predictor of the future for the rest of the market? I think so, but first we have to get everyone bored silly with some aimless wandering. Footnote on GDX: it formed a perfect pin bar on its weekly with the last three bars, but pointing down, so it may pierce the line on a move south sometime soon. I think it would be a false break, but still.
Obviously the trend of the market will be up during QE2, however the market in anticipating this will from time to time get ahead of itself, so to speak, and we can expect periodic pullbacks, as always. And I do agree with Trefoil that the immediate future will like see some aimless wandering before moving on. In other words the market will ratchet up in fits and starts over the coming months, but at a slightly greater rate up as compared to its long term average since the mid 1970's. Over the coming years the market will move up in line with inflation which has become, since Bretton Woods was abandoned, the primary driver of U.S. stock prices when averaged over a large number of stocks. Over the next 10 to 20 years the U.S. market should make very little progress in constant dollars. The markets in emerging economies should easily outperform the U.S. markets (in constant dollars), but expect greater volatility in the emerging markets. Those who are betting on a collapse and a return to the recession lows will be sadly disappointed barring another major financial calamity. If there is a calamity, it is more likely now to be related to excessive inflation than to inadequate liquidity. I disagree with those who think deflation in the overall economy is likely.
what's up with CSCO? it is trading at the level when it was added to Dow in June 2009 (SPY was 35% lower). it is strange to see several recent Dow additions under-perform the market. BAC is another one. is it a bad omen for the economy going forward? or does it simply mean that the people in charge of Dow selection are terrible stock pickers?
Bullish 8 50.00% Flat 4 25.00% Bearish 2 12.50% I prefer to keep my opinion to myself or don't have one 2 12.50% Total: 16 votes 100% street.com is also bullish: Bullish 50.29% 171 votes Bearish 34.11% 116 votes Neutral 15.58% 53 votes
1. Nov-Jan huge run-up in indexes, Greek crisis, major dump 2. Mar-Apr huge run-up in indexes, PIIGS crisis, major dump 3. Sep-Oct huge run-up in indexes, Irish crisis, ...?? "Ireland awaits bail-out details Financial Times - John Murray Brown, Joshua Chaffin - ‎1 hour ago‎ Ireland was on Sunday expected to make a formal request for a multibillion-euro rescue bail-out from the International Monetary Fund and European Union. .." How will this one play out? is the crisis over before it has begun?
S&P FUT 1205.0 6.8 +0.57% DOW FUT 11233.0 54.0 +0.48% NAS FUT 2146.25 12.75 +0.60% More market rally tomorrow, don't miss out on these risk free returns.