Will this week be the market floor?

Discussion in 'Trading' started by Bogan7, Aug 16, 2007.

  1. Looking at some of the Asian price action today I have a feeling the near term 2-3 weeks maybe 2-3 months floor will be set by the end of this week anyone else agree?
  2. una11


    Timewise, I think an intermediate term low is close at hand. Percentagewise, we could waterfall 5% or so lower or hold around here. We shall see.
  3. When the bears start crowing you KNOW the bottom is in and it time to get back in.
  4. The markets will do what they will do. Personally I think there's another climb back up to come but I don't really care.

    It was funny to see the subprime thing finally hit Oz after all the holier than thou crap we've had about those bad irresponsible US lenders. The mortgages written in Oz are the stuff of fantasy ... and one day the cards will collapse.
  5. I agree with the previous poster. Who cares where the markets are going, just follow. Picking tops and bottoms is for amateurs.
  6. You haven't been trading very long, have you?
  7. No you don't. All you know is what you have seen in the past. From here it will:

    a) go up
    b) do down
    c) go sideways

    anything else is a blind guess
  8. Taking off 70% of my hedges today. Looking to actually nibble long in the 1370-1390 range. Rental only.