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Go Bears Go !!
Big drop at 6:20. Go Bears!!
J is still in cash?
My system is, but I am not. I think we are going down this week and I have positioned myself accordingly.
Doesn't look like today is a good day to be short...Amazing how so many technical analysts are saying the market will re-test the August lows... but the market refuses, despite all the bad fundamental news here in the US and abroad.I am beginning to believe that this market will not go back down, but will continue to rise until we need a bailout from the IMF and then all of our stocks will be worthless...Again, just tired of being on the wrong side of a trade...
All news related. There are a lot of wishers out there that want another dip so they can catch another run up. As long as Europe stays positive and continues to work out there issues this market goes up just like it did this morning on the back of Europe.
Joe, why is the market going up when our own economy has it's issues. I know the market is not the economy, but the market should also reflect the strength of the companies who are doing business in this economy.I guess I just need to figure out what to read or study to understand why there is not connection between the two... grrr
J, still in the short or did you offload it this morning. Market going higher now, gonna be a bad day for shorting TNA (or in TZA like me)...
Market is forward looking and looks for positive things to buy stocks or negative things to sell/short. The bad news of Greece is in the market and now the market is looking toward the positive side of Greece. If Italy bombs then back down we go until we have it cooked into the market and then rise back up based on the positive things as Italy works itself out of it along with our own bounces in our economy. Just a high level look. TA says we are coming to a double top and should fall back and bad news could make that double top fall more than from a TA perspective. Good news could make it a small pull back and on up we go. I'm not investing I am day trading. I'm not risking my money in this market more than a few candles at a time.
Still short. Loving that TNA is severely under-performing. I'm looking to cover before the fed announcement, but I'm not sure if I'll do it today or early tomorrow.