I don't believe market will go to the roof but today is a great day to buy for swing traders. GS, AAPL, ADI, TXN, INTC,....
good luck with that.. double dip recession is a reality.. look back in history and it happens all the time.
Except with a short timeframe (couple days?) I am not sure why today is such a great time to buy. Keep firm stops in place. I just got stopped out of a for longer term long positions (YM, TSE60) that I've held for months. Been a good ride but maybe the party is close to over, who knows. I'd personally look for new long positions only on new highs (1150+ in ES).
Hajimow, You must be a bold young trader. They look mostly down to me. Different strokes for different folks.
Remember the "TREND" was up, has the "TREND" now turned to the downside or is that "TREND" usually ignored when the markets sell off.
I am 49. I am not that young. What I meant was how you would feel if tomorrow market rallies and what you hear on media is something like this : "Well we had a healthy correction and things are looking good and market will rally from here,..."
Boy I was right again. Yesterday was a good day to buy. I am not proud of myself. The reason that I was right is that I have been cheated by the market (media) many many times and I know when everyone calls double digit recession, it means it is the end of the tunnel. I don't say that we are not in recession. I say market will rally again. At least short term. AAPL will go to 240, GOOG to 600, INTC to 22, CSCO to 27, ADI to 33, TXN to 26, AMZN to 140, EBAY to 25, BBY to 42,.....
We should all wait until the end of the day before we make calls. End of Day means new information. This day's information means "short". If you're trading the hourly timeframe then your picks are both good long or short.
any stoploss on these chief ? I just want to know where your knees will buckle- AAPL 3.5% cheaper than when you wanted to buy