Here one minute, gone the next. Such fickle shoppers. Paying up 4% one day, unwilling to buy down 4% the next day. Are stocks Giffin goods? The higher they are priced, the higher the demand? Did that idiot Cramer call the bottom yesterday? Are we going to get an emergency rate cut tomorrow morning because the stock market is down more than 1% and falling? So many questions.
only a novice could be surprised by todays pullback...every rate cut since august has resulted in the market tanking the same day or within a week...also yesterdays rally is a CONFIRMED fake-half the average volume....what a fake suckers rally...
the buyers are waiting for 11700-11900 where the federal reserve steps in and cuts rates...or provides more injections.... just wait till 11750-11900, you will see.
Now now, I can remember back in 2003 after so many failed rallyâs no one believed it when it did rally. The market does not ring a bell when it has bottomed, it's got to make everyone s skeptic first. Giving back half of yesterdays gains is ok, just as long as we don't break SP500 1280.
The buyers that matter have never shown up in the first place. What we saw yesterday was a pretty classic low volume bear market rally, nothing more, nothing less.