Can't Explain It But I'm Suddenly Incredibly Bullish

[MichaelD]

As the subject says, all of a sudden today (pretty much soon after today's close on the ASX) I began to feel bullish. Not just hopefully bullish, but really, really bullish - I've not been this bullish since I started up a "market's going up 'cause everyone thinks it isn't" thread before the counter-trend rally in March.

Can't explain it rationally (and as always I just trade the plans anyway).

Is it Olympic euphoria?

Is it 'cause the whole world is settled in for the prolonged bear?

I dunno.

Maybe I should just take my medication.

 

[Sean K]

As the subject says, all of a sudden today (pretty much soon after today's close on the ASX) I began to feel bullish. Not just hopefully bullish, but really, really bullish - I've not been this bullish since I started up a "market's going up 'cause everyone thinks it isn't" thread before the counter-trend rally in March.

Can't explain it rationally (and as always I just trade the plans anyway).

Is it Olympic euphoria?

Is it 'cause the whole world is settled in for the prolonged bear?

I dunno.

Maybe I should just take my medication.

It is 12.30 on Friday night there Michael. Could a few ales be involved with the euphoria? Sea of green in the US right now, so your Monday might be ok.

 

[theasxgorilla]

As the subject says, all of a sudden today (pretty much soon after today's close on the ASX) I began to feel bullish. Not just hopefully bullish, but really, really bullish - I've not been this bullish since I started up a "market's going up 'cause everyone thinks it isn't" thread before the counter-trend rally in March.

I think it's fair to say that 5000 on the XAO has stopped the decline in it's tracks for the time being, and the SPY in the US looks like breaking out. If it breaks out to the high side I'll join your sentiment for the next little while.

 

[MichaelD]

Could a few ales be involved with the euphoria?

Nope. Stone cold sober. I did have a Pepsi Max this afternoon though - that always revs me up.

Just a bit manic I guess. US does look surprisingly good, though. Another huge loss reported - this time Fannie Mae - last time it was Merrill Lynch - and still the market rebounds.

And then there's a story now on Yahoo Finance about how most people expect stocks to fall in the next 12 months.

 

[It's Snake Pliskin]

Nope. Stone cold sober. I did have a Pepsi Max this afternoon though - that always revs me up.

Just a bit manic I guess. US does look surprisingly good, though. Another huge loss reported - this time Fannie Mae - last time it was Merrill Lynch - and still the market rebounds.

And then there's a story now on Yahoo Finance about how most people expect stocks to fall in the next 12 months.

Will the contrarians come out.

 

[wayneL]

I think it would be fair to say that the institutions, who have had a severe reaming this year, are pro-actively in the market now. Having now largely completed any sector adjusting, unless there is another bout of redemptions, there is buying pressure here.

Like I said before, a tradeable rally, particularly strong in a few sectors.

 

[CanOz]

This may be the strongest Friday in a while too, and its a fact that bull markets start the week in the red and go green by Friday, reverse for bear markets which generally has been the case in this bear market.

The S&P 500 has not broke out of its triangle pattern yet though, so I'm not getting out of the shorts until then at least, but the longs are doing well tonight!

Cheers,


CanOz

 

[theasxgorilla]

And then there's a story now on Yahoo Finance about how most people expect stocks to fall in the next 12 months.

Translated: Joe Public's shares are presently on sale at a discount.

 

[MRC & Co]

I agree Michael. Though I don't count since my current month is pathetic, I am currently, as of today, 9 longs and 4 shorts.

No pyramids as of yet.

The volume at open today was HUGE, formed a flag, a small breakout and forming another flag now. Too bad my gap close was tagged before it ran, story of my month

Going to bed, but wouldn't be surprised to see it carry on with it tonight and on Monday.

 

[The_Snowman]

Read this on MarketWatch.....

I just heard a guy on CNBC state that there have been 24 +300 DOW days in history........ ALL in Bear Markets. Food for thought for the weekend.

 

[Tysonboss1]

I've not been this bullish since I started up a "market's going up 'cause everyone thinks it isn't" thread before the counter-trend rally in March.

Same I think the Tide is turning and the bull is waking, I started this year just stockpiling all surplus cash in offset accounts, but for the last couple of months I have building up my portfolio of 15 companies that should perform well once the markets starts to recover,

Signs that interest rates may begin to ease here in OZ will have a good impact on the market, especially on some of the income stocks that are trading on rediculous yeilds at the moment,... every 1/4 of a % that term deposit rates drop means that people are wiling to pay more for each dollar of income that a stock provides, so will should start to see the income stocks recover and trade at lower yeilds ( Higher prices ).

 

[Sean K]

I have building up my portfolio of 15 companies that should perform well once the markets starts to recover,

Care to share those Tyson? If you don't want to put it in the regular forum splash them up in a blog or PM. Cheers, kennas

 

[CanOz]

Well heres the S&P mini breaking out of the triangle....I just hope it really does trend, this choppy action has really sliced up the account! For most positions we've cut the risk back even further.

Thankfully MCD had a good session last night! This is the first US stock that we've had to go up over 6% in one session i think.

Cheers,



CanOz

S&P on top, MCD Posi on bottom

 

[Tysonboss1]

Care to share those Tyson? If you don't want to put it in the regular forum splash them up in a blog or PM. Cheers, kennas

Nah,.... I don't want to risk having egg on my face....lol,... maybe I will PM you.

 

[Sean K]

Nah,.... I don't want to risk having egg on my face....lol,... maybe I will PM you.

I've got a list of 10 I'm looking at in my ASF blog for the grandkids. You can share them there. There's only 1 or 2 people who are watching there ....

 

[CanOz]

grandkids

Good grief Kennas, i thought you just got married? I must have been away for a while longer than i thought?

 

[BentRod]

for the grandkids

Roughly how old are you Kennas?

Looking at your blog I thought you were quite young.

 

[Sean K]

LOL

I'm 39, no kids.

If I have any, it will be an accident.

So, the grandkids call can be taken two ways.

1. It will never happen.
2. It will be some time off.

 

[explod]

Read this on MarketWatch.....

I just heard a guy on CNBC state that there have been 24 +300 DOW days in history........ ALL in Bear Markets. Food for thought for the weekend.

Yeh, the roller coaster gets to the stomachs, the thrill of it all, BULLISH BEARISH, suddenly incredibly.

Sounds like the casino to me.

A read of David Hirst in todays Age is sobering reality check. The US debt to China (or China's ownership of US debt) and what may happen after the Olympics.

 

[tech/a]

I'm 39,

You were right Rod---he is "quite" young.

Michael---You'll get over it!