Who's gonna save the market tomorrow ?

Discussion in 'Trading' started by aaronk321, Aug 28, 2007.

  1. This man will

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    Jack Hershey sporting a pony tail at age 70.. inform your local congressional representative
     
    #31     Aug 29, 2007
  2. Brandonf

    Brandonf ET Sponsor

    I got lucky (sort of) and was sick as hell all day, so I closed everything on the open..which I'd have not done otherwise. In the end being ill allowed me to keep my profits, which as I said I'd have not done if I was feeling better.
     
    #32     Aug 29, 2007
  3. And look the markets went higher yet again on Friday. It appears you were wrong again (which isn't a surprise).
     
    #33     Sep 1, 2007
  4. Brandonf

    Brandonf ET Sponsor

    I was, and honest engine, I'm wrong more oftehn than Im right, but at the end of the year the IRS still likes me. BTW, I really dont have anything against what you say about the market, a lot of times I've agreed with you, in which case I dont say anything. I'm just think your an obnoxious motherfucker and I wish youd go away or show up sometime outside my door, even if it was right after I got out of chemo. I never had this experiance before, where I just couldsnt stand someone based upon their posts on the net, so I guess congrats are in order. Maybe, as my friend Anthoney tells me, the radioation has just made me extra bitchy lately and some day ill calm down..who knows.
     
    #34     Sep 1, 2007
  5. Brandonf

    Brandonf ET Sponsor

    Let me also add this. In terms of price only the fact that the market was so strong this week was very impressive. If all you looked at is price, you would be forced to be very bullish on the market action at this point. Unfortunatly this weeks very strong up action also happened to occur on the LIGHTEST VOLUME OF THE ENTIRE YEAR, which means that its very possible it doesnt mean shit, its just guys like yourself buying, but none of the big players. Its hard to tell without the volume, so I'm going to reserve my cash until we get some sort of clue in that direction. If we do get a valid follow through day, there will be plenty of opportunties to get long leading stocks and produce superior gains vs the indexes.

    Brandon
     
    #35     Sep 1, 2007
  6. Volume is a weak indicator. If you look at one year chart for the S&P there are periods where the market rallied on sub average volume and continued to go higher.
     
    #36     Sep 1, 2007
  7. Brandonf

    Brandonf ET Sponsor

    There are, but there are just as many examples of the market rallying on light volume and falling apart, or declining on light volume and then rallying like crazy. I know a lot of people do not use it and they do fine, but I find that if I ignore it, it tends to be at the wrong time so I've learned to watch it.

    Brandon
     
    #37     Sep 1, 2007