Discussion in 'Chit Chat' started by midniteeuropa, Mar 10, 2009.
I'm in this bear market rally, but we all know it's a "BEAR" market rally.
Fade it near 724!
I am on the sidelines in terms of shorting. Too much gloom and doom and even Warren is bearish.
So I will see what happens in the next 2 weeks.
just keep buying. these gains will hold. The dow should be at 12,000 with a PE ratio of 20.
Stocks are being discounted for the worst recession that never happened. Buy goog, ma, v, bidu, rimm, ewz
I'm shorting today... will cover tomorrow!
We are still in a bear market with a lot of downside momentum. I would like to see a 1-2-3 reversal before I go long in a big way (as described by Vic Sperandeo in "Trader Vic: Methods of a Wall Street Master")
1. A down trend line broken
2. A higher low in the uptrend.
3. Above the previous high in a uptrend
At point 3 the reversal is confirmed and everybody's brother is getting long. A stop run often follows to re-test the penetration at point 3.
I've actually gone long this morning with a timeframe of 2-5 weeks. Although I agree there's still more downside and that this isn't THE bottom to end them all, I think we're in for a small rally to the upside now. Last week had this undescribable capitulation feel to it, at the same time I've seen some stocks get a decent bounce off their lows. Not looking for an argument, we'll see this week and next. But, my guess is that this is the bottom this side of summer.
I would say retest of november lows is in cards and we might easily achieve this within couple of days. Then we go down
will this rally sustain ?
what a huge day..shorts are screwed..should see another 10% rally later this week
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