on the gape fade, now after the morning euphoria... we now have ... GLOOM AND DOOM.
...
It does make me a little nervous to see all asset classes bing sold this morning.(cept banks apparently.)
but realize, they weren't orders that came in at the bell
Monday, February 23, 2009
So
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What do you mean by "orders that came in at the bell"?
Let me talk about what didn't happen. My Sunday money section of the paper didn't have any stories about the DJI or new lows or technical anything.
all my local paper said was talk about stimulus, and how tough things are on buisness, unemployment, how to get help... ETC.
So, What didn't happen this morning was that Doctor wilson, or James the Lawyer did not call their broker this morning and say "SELL SELL SELL".
So far we have that sentiment from mamis that "everybody who is going to sell has sold."
Once you think that all the "civilians" in the market have puked them up. the people in the market are just the pro's and us.
All I'm pointing out, is who we are playing with in the market. We start to think that all the civilians are gone.
seemed like, T-lo was talking about a sentiment low last week.
I think that this process, is the toughest. If there is a sense that we have "Chinese water torture"...
and instead of "panic" we may just get some kind of exhaustion low.
but as I write this, that should be exhaustion and "Giving up by all investors"
when we see anger... I just ... I just hold that that is not giving up.
On the other side of that Half glass. There is a point where people are depressed/give up... where after that stage. They get angry, and that is a sign of the recovery...
If you are Truly depressed you are too depressed to be angry. So, Either they have yet to be depressed and are in Anger stage. Or they are coming out of the depression, and it is the first signs of life.
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