Financial history doesn't repeat itself, but it often rhymes.
You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
Thursday, August 28, 2008
Want a contrary indicator
over at Big picture there are 6 posts to Barry's board.... It's like a morgue
Teresa I’ve already given my opinion on the psychology of today’s market in Too Soon Old and The Twilight Zone. My experience to date in the financial markets is that it’s never different this time, and anytime the mantra becomes “It’s different this time”, it is generally a big turning point.
Could be also people on vacation.
ReplyDeleteProbably BOTH
I'm not calling this a "major turning point".
ReplyDeletebut Like I said, we had a low at tanksgiving, and a high at Xmas break, or just before.
both times I was like "oh,it's the low volume... when people come back... Well when people came back the reversal held.
So you're saying we'll really. Days or weeks? I say 3-5 days at most.
ReplyDeleteAt 135-136 level I will short SPY more. It can float up there, but do you see it breaking up above that level? I don't.
Again, as long as some of my bets are working out, why not patiently wait for the Christmas that never was :)
What's happening to Nasdaq? RIMM, AAPL, FLSR... Why the sharp drop, do you know?
ReplyDeletestrong dollar hurts those stocks(nazdaq)
ReplyDeleteI still say we get a healthy correction....
but the end of the month is tomorrow, and we could see some money flow...
Hopefully we decline the rest of the day.
do you know have manic this market will get if oil breaks down to the 100 level? because the hurricane ends up being nothing.
ReplyDeleteCall me stubborn or stupid, I stand by this weird theory about oil to $200.
ReplyDeleteWith all the lines and everything, SPY must stay under 135.7 topsssss.
Remind me, are we still in the bear market or is this the bottom??
Teresa lo says it ended. Probably
ReplyDeletethis is rediculous, we have to be out of mo mo, but After getting stopped out twice, I'm not going short... till I can see better downside action..
ReplyDeleteMaybe that is a contrary indicator.
Are you serious, Teresa said the bear is over?
ReplyDeleteEveryone
ReplyDeleteIs this the bottom?
Teresa
I’ve already given my opinion on the psychology of today’s market in Too Soon Old and The Twilight Zone. My experience to date in the financial markets is that it’s never different this time, and anytime the mantra becomes “It’s different this time”, it is generally a big turning point.
http://invivoanalytics.com/2008/07/15/reader-mailbag-a-bottom/
this doesn't mean that some things arn't going lower....
ReplyDeleteit's a market of stocks, not a stock market
ReplyDeleteDoes that have your heart Pounding?
ReplyDeleteI'm torn. I don't think we've seen the low yet, but all these smart people are saying we have.
ReplyDeleteHeart not pounding, but i feel more stupid by the minute.