And then, just as everyone assumes you can't lose money by being long... A spike up then a big drop will probably cause the most pain for the most traders, and we know what markets like to do...
Agree, all this talk about the people cover their shorts sending the market higher is just nonsense, I think by now most have covered and went long with the trend only going one way over the last 10-12 weeks.
Oil up nice again today!!!! Gas prices near me for regular are up over $3.10 a gallon, at the rate oil is moving $3.50 by early January is definetly coming. Get ready for more bubbles.
people should try to elect those congressmen who will give them gas rebates. Shortie "Che" Guevara Out
NASDAQ up 9 days in a row, just throwing that out there. 9 down days in a row and they would have been talking QE3 right this second.
Ending price for spx by Friday Monday 1203 Tuesday 1209 Wednesday 1223 Thursday 1228 Friday 1240 Just keep buying, there is no risk, spx to 1275 by end November and 1300-1325 by end of 2010, new historical highs by mid 2011 to 1600+!!!
QE2's ostensible purpose isn't to boost stock or (especially) gold/oil prices. Or kill the Dollar. That's all it has done. QE1 was a complete failure, BTW.
Volatility indices are all rising, gold's (GVZ) especially, which indicates lots of hedging ahead of the rest of this week. The recent trend in these has been up. This kind of nervousness ahead of big events isn't usually bearish. The more hedges that get put on, the more that have to be unwound after the events.