Market has been in rally-mode for quite some time now, and rallies even on bad news. Is this a very strong bullish sign, or should there be a sharp reversal in the next couple of days? Regards.
Sure, it's bullish. At the same time I think it's overbought will pullback. When the Dow ran up over 100 today I decided it was time to go short. So far, so good!
hehe... "they're" going to crucify greenie for this today... by "they" i mean the repubs... "Why'd you kill our rally, motherfucker??!!" "You dirty commie!!" hehe... http://elitetrader.com/vb/showthread.php?s=&threadid=12572&perpage=6&pagenumber=1
Scares me that you are all negative right after I loaded up on SMH puts (June 25's and 27.5's). Now I am not so certain, but I think that was the top today.
We are at an interesting juncture in the market. Looking back months from now, I predict it will be totally obvious that this was either the breakout point or an obvious top. I'm guessing the latter, but I'm wrong a lot.
i think the unknown is the catalyst... clearly, the fed has not turned bullish on the economy. we'll see what CSCO thinks...
for novice traders: being too early to short the market and being too early to buy the market --- let the market exhaust itself. you don't have to get it at the top (nor do you want to). I'm bearish as hell, but have been raking it in on the long side for a while now. Some of the best opportunities on the long side occurr at times like this when EVERYONE (and I mean EVERYONE) is saying we must be at a top! ... come to think of it -- we MUST be at a top!! (maybe CSCO will be the downside catalyst). dog