Bob Brinker gave his opinion that this is a buying opportunity. He said he gave the buy signal on July 1, I think. A long time ago, Bob gave a buy signal, and the market really took off. In 2000, he gave the sell signal and it took a couple of months, but the market finally tanked. In 2003, he gave the buy signal, which turned out to be the bottom at that time. However, Bob really lost his credibility when he failed to give the sell signal in 2008, and the buy signal in March 2009. I was very disappointed. The reasons why he believes that this is just a correction is because the yield curve is positive. And although he acknowledged that real estate played a big role in the 2008 - 2009 bear market, he does not believe that the second wave of real estate foreclosures will affect the stock markets this time around. Even though Bob Brinker spews out left wing propaganda, and I am a conservative, I will still listen to what he has to say
He has a web site. If you can't find it, Google it. He's had a nationally syndicated radio talk show for a couple of decades now, since the Bears won against the Colts in Superbowl something.
This morning (10AM) shorting was trivial/classic/predictable. Now let us see if they also buy a trivial/classic/predictable retreat with SPY at 107.17. Problem with buying this retreat is the upside is now very limited.
Yes, they bought the SPY retreat. It is now at 107.53. Let us see if the sellers between current price and 108 will put a ceiling to the rise for today. Is congestion coming for the next few hours at least?
I doubt, if by dump you mean a big/fast fall. Dumps happen well after eating. I am in fact concerned that the volatility might drop, and lead to a very dull/sleepy market. Could you post one of your images of a dump?
Markets have traded sideways the entire day, they did the same thing friday until 20 mins before the close then rallied into the close, same thing might happen today.
they bought my dump before it even had a chance to materialize. but not much of a rally either. SPY 107.87 maybe just an unfullfilled call. will dump tomorrow for sure. i was not looking at the poll, rather i saw many weak stocks on the list i watch. Rennick Out