*Yawn* Another Day, Another Rally on Horrible News

Discussion in 'Chit Chat' started by MrDODGE, Dec 11, 2008.

  1. What news will break the back of this market? Everyone and their mother are too bullish without taking into account that we haven't broken out of a trading range. Some idiot on CNBC just said that we have tested the low 3 times already this year. Guess he didn't realize we set a brand new low not too long ago.

    I think the news that is going impact the market negatively will be the realization that holiday sales figures were much worse than expected.

    The real question here, how big of a rally do we have in the last hour today?
  2. 30 pts on ESZ8? It has been in a tight range for the last couple of days so we could see a nice rally if it starts to breaks out.

    Wishful thinking...but I wouldn't be surprised...If it does I will gladly sell my long position
  3. Lucrum


    "Another Day, Another Rally on Horrible News"

    I'm not into predictions but a market that "should" be going down and isn't might just be bullish.
  4. Thats the way this market works since October 10th. Just buy all dips. All bad news priced in. Buy GOOG and AAPL. We could be due for an EOD surge of 200 points? maybe.
  5. Sounds great until something that isn't priced in is released.
  6. Lucrum


    Well then it would be doing what it "should" be doing wouldn't?
  7. Ever heard of the phrase, "Trade the Market you HAVE and not the one you WANT?"

    Your comments on ET seem to fall into the latter.

    Meanwhile, energy stocks, oil drillers, fertilizer, coal and steel stocks are +35 to +60% in the past 4 trading sessions.

    Perhaps you should take a look at a few charts every now and then and TRADE THE TECHNICALS instead of "listening" for certain fundamental news that matches your bias.

    Many stocks like BTU ( Peabody Coal ) did not take out their previous lows of Nov. 20th last week and are now making a classic "measured-move" to the upside. ( from $16.65 to $28.10 )

    Got technicals?

  8. Too bad prior to Oct 10th, you were pressing hard to buy all the dips while the market went down near 50%. Its easy to go back and use highsight to find the date in which what you are saying works, too bad you didn't know that at the time :)

  9. Its amazing how many people can't figure this out. I guess ego and stubborness get in the way of being able to actually process what is happening and make the correct decisions.

    Instead we see threads all the time by people dumbfounded that things aren't going the way THEY think they should.

  10. Maybe trading is not for you. Look for another profession.
    #10     Dec 11, 2008