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.

J. P. Morgan

"Sell down to your sleeping point"

Friday, January 2, 2009

Jan2 again

Well, this tends to be a volatile day. could be a nice pivot to go back down, could be a few days of buying, could be the start of a nice uptrend.

6 comments:

Tony said...

Hey Brian, what did you do with Eric? And don't you have your own blog?

Eric said...

Are you mocking my hedging?

I say Up for the next 2 days...

but I'm very ready to be wrong today.

The other horror situation is that sometimes we trade down for 2 days after new years, then rebound.

I say there is money waiting for the new tax year.

Tony said...

Just fooling around. I had not read your very next post... nor had I had my coffee yet.

Eric said...

Coffee.... haven't made my brew yet..

I actually try and nap as much as possible from 4-7 my time 6-9 east coast.

5-8 your time.

If we get an up day we should get 2..

I very much suspect we are going up through may..

I'd suspect a retest, but too many traders are thinking it.

Futures are up big...

NO BECKY THIS MORNING.... MCC... she is only for my dirty dreams...

that is fucked up, futures on cnbc are a mess... +80 on the dow but down 2 on the spx and down 3 on the naz... that can't be right.

Tony said...

Futures should be up... SPX is some type of aberration. Hang Seng is up 4.5% as I type.

MCC was very naughty last week.

I'm east coast time.

Up thru May? That's pretty far-sighted. If we re-test the lows, we could see some real "discouragement", like a big drop, instead of the expected "aversion" blip. I would like to see a month of climbing the wall of worry before the aversion. A re-test now will scare the bejesus out of folks.

Eric said...

Umn... We will see over the next few days..

I just think aversion or retest, after may or october... I think it will depend on some of that economic data between now and then.

You know that the GDP was cut in half during the great depression...

We aren't even close.

If you want to talk about a broader aversion retest.. Maybe after this 2 days of buying, and that we will get aversion as we get the NFP next week, and Warning season the week after.. Then some buying through earnings.

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"

cnbc