Precisely. I figure we're within days of a final shakeout, if it hasn't already happened and we just don't know it. Sentiment is awful, which is of course a good thing. You can see the bear rotating through the sectors, but taking down the investment banks, who are at the center of this subprime/hedge fund controversy, the most. Once it's all over, the ones who were relatively unscathed will bounce the most: in this regard, my money, quite literally, is on Lehman (LEH). The NYX is still pointing down, and will either bottom ahead of or simultaneously with a bottom in this bear phase. It's already reached my initial target on the short I have in it (75-76 range), but I'm holding on, seeing if it will drop to 73. Both it and LAB, a market-maker on the floor, are way oversold. Greed? A little. I mean, it's not like I'm looking for it to drop to the 50's or something.
Next time you're at day care, skip taking the little yellow bus and get a reading tutor. Also, tell your teacher you want something other than the comics to read to improve your comprehension skills. That way, the next time I come back here and call you a dumbsit, you'll know what it means.
What..........?????????? ....100 seconds of my life I'l never get back ....what a waste of cyberspace
http://www.elitetrader.com/vb/attachment.php?s=&postid=1511511 I have used this thread to update my infamous ignore list yet again. This is the chart you dont want to see...
T88 ....100 seconds of my life I'l never get back you actually can get it back that's the beauty of paying attention to the markets. Perhaps you should move your 12 posts over to Yahoo message boards I hear they are really good. ~ SI
I think we are in for a nasty sell-off. Market has topped. The market moves in 18 year cycles. We have 18 years of consolidation followed by an 18 year breakout. We are only 7 years into the cycle. We still have another 10 to go. There will be one more drop in this cycle most likely and that will come fairly soon down to the 1200 level.
The VIX is about to erupt. If it erupts in a downturn, then there will be a massive move to the downside.
Today is the eighth day in a row that NYX has closed lower. Looking for a technical bounce tomorrow, so I covered and am long for tomorrow's action. But after that, it looks like more downside. I'm anticipating selling after tomorrow and going short again. Reason why this is relevant for this thread is that prior to Feb 27 this stock fell pretty hard, and it bottomed on the 5th of March, after which it chopped higher. So my stance on this, although there isn't a lot of history to back it up, is that as long as this stock is trending lower, the markets will too.
Dude, stfu. stop acting like the world is coming to an end and take it one day at a time. anyways, S&P500 1490 support held today so we'll see tomorrow if it gets tested again and we should go from there.