There’s no point trying to figure out the market. The last 20 minutes of trade was totally dictated by high speed computer generated sell orders. The market went from flat to down 220 in the same time it takes to eat a ham sandwich. There’s no trading that sort of tape, unless you’re positioned for a late day melt down. The next phase of this market will likely change patterns, in order to destroy those who are trying to game the casino.
Perhaps the market will rally 220 points into tomorrow’s bell? Are you willing to risk it?
I will strongly state my opinion that we are NOT entering a bear market, despite all of the apocalyptic prices action in the energy complex. That is interesting, by the way, as oil has traded higher for two straight days–after rallying from significant beat downs.
There is nothing on the horizon that scares me, short of a 3 million man ISIS army. Ebola is not going to become a pandemic and earnings will be just fine. You do realize MCHP has missed before and that didn’t mark an end to the tech trade, right?
SLCA was down another 10% today. The energy complex is falling just as hard as the application software stocks fell in April.
Do you remember the sort of returns those stocks offered in May through August?
You need brass balls to buy into this tape.
In the meantime, utilities and REITs look great. My top holding, ETR, wants higher.
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Totally agree with that being said I bot Sprint and GLUU today. Wish you woulda used the T2 picture again. This market needs a couple Xanax
“We are going public!!!”. Wtf is Grandma waiting for? Daffy Duck has an election to lose.
Won’t a strong dollar hurt earnings?
yes
Fear & Greed Index now at 0. I think we died.
In my own writings. I declared. A few weeks ago.
. . . . . . . . . . . . . . . . . . . . . .ENDGAME . . . . . . .
So I was fairly confident with my 2011SPY T O P
Throw tomatoes or meatballs at me. Maybe 200dma bounce
Your prescience is outstanding. Can you tell us where or when the bottom will be so we know when to buy again?
I agree with your comment on MCHP, but when you combine it with violent price action it usually means game over. The monthly chart on the SOX is simply frightening. Combined with phony QE rise all of the 2013 rise is at risk in semis.
However we should get a bounce soon.
This is turning into an interesting few weeks!
I’ve bought shares in BBEP, T, and NLY in my long term stock portfolio.
Excellent yields. You’re supposed to buy the blood.
My options book on the other hand is disease ridden.
TraderCaddy…Happy Birthday
What’s happy about it?
Thanks tradingnymph.
Much appreciated.
Hammed samich?