When will you bears turn bullish? I for one do not care because I only trade...However, I've read some post where ppl. are claming they have been bearish for the last 3-6months but, the market has done nothing but go up...I remember ppl saying, "The republicans are manipulating the market" (esp.the dow) higher into the election. But since the election, the market has moved at least another 50 ES handles higher. The oil market continues its move lower and in my opinion will still go lower. Although, seasonality dictates a move higher during the next month, but nothing pass the highs....A move lower over the next 3-6months creating a 2007 low; only to rally beyond 1500 is not bear market.
dr. greenback, i am also known as DR. EURO. i am a BEAR and you are a weak GREENBACK ! PEACE BE WITH YOU MY WEAK FRIEND, BGP
Not for long little brother...There's a new sheriff in town or congress if you will, and times will be a changin..
Just watch the housing market, it shows no signs of coming back anytime soon. The ATM machine isnt working the same as it was. Consumer spending is going to slow and with the GDP making up 2/3 of consumer spending expect a slowing economy going into the the rest of 2007. Watch those ARMS....Trillions worth of ARMS restting for 2007.
I was going to add my two cents, but unfortunately, my clairvoyant ability is quite weak. My thoughts on the market include the following: the market will just keep going to up; but aren't we overdue do for a correction? I see bearish divergences that suggest a crash or major correction is coming; plus many variations on these thoughts. One of the hardest lessons for me to learn was that to make consistent money over long periods of time involved exercising my discipline, not my opinion. As others have said, the market is always right, it's our interpretation of it is where the troubles begin. With that, over the years, my thinking has evolved to where I try my hardest not to predict where the market is going, and instead try to anticipate and react. It doesn't always work that well, because as a human being its impossible to not have a bias. So, I do enter the market with a bias, but I try remind myself that its just a bias, nothing more, its not a prediction. As an ES trader, I wait for set-up which involves price hitting a certain level, watch the order flow and internals and place my bet. If I'm wrong, then I have to let my discipline trump my opinion and get out quickly and wait for another set-up. That's it, no predictions for me.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSpdWzm2dEDQ&refer=home Maybe not so weak in the short term
2006 has taught me more about charting then any other year. I have learned to simply turn off CNBC and just go by what the charts tell me. The charts are not perfect instruments, but they do seem to be accurate most of the time. Interpretation of the charts is also a subjective matter. So with that said, I believe the dollar will be around 1.20 dollars per Euro in six months time. Interest rates will be at 5.25 again by the summer.
Thanks for the support..I guess that means I'm getting stronger. And this may only be the beginning..Over the next 2-4 years I see change in fiscal policy giving strength to the GREENBACK!!!....The Dr. has spoken.