Discussion in 'Trading' started by areyoukidding?, Aug 29, 2005.
Thats the interesting question.
The more interesting question is whether this is just a head fake, likely engineered by the Fed or some big brokerage firms.
It seems like quite a squeeze again. I agree it seems like the market is saying we can shrug off terrorism in London and a major hit on our refinaries, now everyone buy it!! (I do but never hold long enough for the incredible squeezes that occur).
its probably relief that the storm was not as bad as expected and eom window dressing.
I don't buy the arguement that the market is up because it wasn't as bad as expected. When the market closed Friday, the hurricane was supposed to do nothing.
Here's from Reminiscences of a Stock Operator about the SF earthquake:
"The market went off. Then it came back. It shaded off and then it began to advance steadily. My paper profits vanished and my paper losses grew.... My position was right but my play was
wrong. However, every day brought the market nearer to the inevitable smash.So I waited and when the rally began to falter and pause I let them have as much stock as my sadly diminished margins permitted. I was right this timeâfor exactly one whole day, for on the next there was another rally. Another big bite out of yours truly! So I read the tape and covered and waited. In due course I sold againâand again they went down promisingly and then they rudely rallied.... There I wasâright and busted! I tell you it was remarkable. What happened was this: I looked ahead and saw a big pile of dollars. Out of it stuck a sign. It had "Help yourself," on it, in huge letters."
Who cares with these stupid rhetorical questions!!!
Just trade the freaking thing!
Mondays are usually up days, but last fridays close near the lows was not a good sign. Once whatever is going on today wears off I think more selling is on the way.
w/o osama, would bush be reelected?
I thought Bush ran with Cheney.....
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