Interesting how that noon pop today was sold into, the market is still rangebound like it has been for months.
Right, and it seemed there was no way the bears were going to allow Tuesday's high for the Nasdaq 100 (1636) to be broken.
Yeah, I hear ya there, but still....a major piece of good news could break the deadlock and send this market up strong. I'm thinking that a big news item (or one that's latched on to as allegedly big) will get the momentum going up or down bigtime. Because we've been locked into a very tight range over the last week it could turn into a pretty sharp break, up OR down. Might be a good time to do a few straddles on select stocks.
I still think we have some room to move up in the market. GM still has cash, the rates aren't squeezing home-owners yet, and we have had a lot of superficial good news about the economy recently. The problems with GM and Ford get my bear vote for 2006 though. Mid-January will be a potentially exciting time to be in the market. All we can do now is vigilantly invest in our present market, watch those stops, and keep the hedges groomed!
Public long, very long. OEX traders net closing call option positions. Who do you believe? But those are the facts and facts don't move markets men do.
I didn't call top, I called the event. Long isn't wrong if you keep your stops in and hedge where necessary.
a big question is...what types of positive things are there to report.... 1. October is over...whew! 2. Christmas is coming...SANTA! 3. GOOG is still strong... 4. Nice bonus if you work for Goldman sachs other than that.... 1. Record trade deficit 2. Record budget deficit 3. highly unpopular president and his staff are getting whacked 4. War without forseeable end 5. the stongest component of the economy (real estate with 50%) is cooling off considerably 6. Oil costs a hell of a lot more than it did a few years ago (although coming down) 7. interest reates rising 8. Natural disasters all over the place 9. REFCO and friends i have to say at thi moment...dont see the light at the end of the tunnel....perhaps the contrarian can say that "it must get better, cant get much worse"?
You ARE the contrarian...that's the problem! I don't know about you, but I don't need any more ipods, computers, or software to accomplish my work. No need to upgrade the house, don't have to buy another car... Walmart looks like a nice passive long investment again lol