1) The pattern for the last 2 months is to push up the market on no news Monday/Tuesday (first 2 days of the week), and then it sells off to the bagholders the rest of the week. 2)Apple news will bring the markets down (nasdaq). 3) We faded the 1431 snp 500 technical level at the close (relatively speaking). 4) actual news via the ISM number comes out early next week. It will be below 50 again. 5) Far too overbought over the past 2 days x-mas rally (already have your 1.5% x-mas runnup locked in), so nowhere to go but down from here. 6) The new year starts and the game starts all over again, sell-off the market, pay back the principle that firms borrowed to runnup the market, then buy back the same stocks a lot cheaper with your previous year`s profits and newly found money. 7) Finally, the pessimistic market talk becomes in vogue b/c it suits the established agendas seasonally speaking. 8) Bears finally come in to the market with full frontal assaults. The reasoning here, is that they are no longer fighting year end bonus agendas by money managers. 9) Momentum builds, panic sets in, and everyone rushes to take profits at the same time, put values go up, the vix moves higher, and people start to lose money. 10) And then the recession talk resurfaces, debate over how far the correction will go ensues, and bluestreek says "I TOLD YOU SO MORONS!" in all his threads
Do you really trade? I mean I know you probably have a long term IRA account you push money around in and pretend to be a global money manager, but do you actually trade, and make real trading decisions? Because if you do, I would really like to submit your photo and perhaps a bio on the Wikipedia site under stupidity. We could even reference a few of your ET posts there for evidence. What do you say?
Dude shorting a rising market is not how to trade, buy the dips. The market will dip thats for sure. I do think we get a clean slate to work off of in 2007, cant wait, I wish it were all ready. What will turn me bearish is a sell off on heavy volume on bad news. Then the next day no dip buyers. Market cannot rally on good news and sells off. This must happen several times. This would get my attention, until this occurs buy the dips.
Do you really trade? no I just like to have the 'best traders' waste time responding to my stupid threads I mean I know you probably have a long term IRA account you push money around in and pretend to be a global money manager, but do you actually trade, and make real trading decisions? again, you presume too much Because if you do, I would really like to submit your photo and perhaps a bio on the Wikipedia site under stupidity. Just the fact that you have ever been to Wikipedia for info Maverick proves to me you are not exactly the sharpest knife in the drawer (if you know what I mean). Ok Maverick you go LONG tomorrow, and tell me how that works for you
Coming into a new year, would you really want to "buy the dips"? I can understand daytrades, for example, Apple and Mastercard today, but I wouldnt be holding positions going into the new year (short or long). I say dont create any new positions (short or long), cash is your friend and take advantage of any day to day trades like Apple today for example. Wait until at least mid-January to see where the market goes from here and then at that time make a decision on how to handle it. If market corrects to a resistance or moving average point, then that should be a buying opportunity. Since the volume is so low right now, any rise or fall will not be legit until everyone is back from vacation.
I`m not trading the ym/es.......I am in the qqqq`s totally different market........they are not participating in these bullshit runnups----the qqqq`s are lower than last month (even after the runnup of the last 2 days). They are a leading market indicator, and they have broken down-----they are currently in a down trend over the last month, and they will finish the year under the 43 level.
Tomorrow will most likely be a good day. If you go by history, whatever happens in the beginning of the week will normally be confirmed through thursday. It is unlikely there will be any type of sell-off. Blue, please give up. You've been wrong on 99% of your calls. I know eventually you will be right, but it just "ain't" gonna happen. Trend fighters pick up aluminum cans in the street and walk around with shopping carts.
Fund jockies window dressing day tomorrow. Don't get in their way. Remember it's not the bull side or the bear side but the right side.
I am getting 2 conflicting signals between the ES and the Q's. On the ES it appears to be getting ready for a breakout of a bullish flag pattern. As with all chartpatterns beware of entering too early though. The Q's appear to be at the beginning of a bearish flag pattern. I don't enter until the breakout has already happened though. Here is my ES chart.