Who is ready for a rally?

[sammy84]

Futures are looking good and with more details of the bank buyout tonight I don't see anything stopping the current rally in the US. I see us having another day of rallying, given that there was a bit of cashing in of profits today and those will seek to re-enter the market tomorrow

 

[Temjin]

That might be correct but dont forget how long it took before they saw the previous peaks (about 20yrs i believe), but today's society is inflated with so much credit that i wouldnt be suprised if it was shorter (with a worser crash)

That's exactly right. Just didn't mention it.

What I was merely saying is that there is always a rally in a bear market and they have lasted months at time before crashing all over again. Who knows how long this will last, or will it even last a few days. heh

 

[tech/a]

Dow futures were +230 at lunch---now +42

Markets hate massive volume and range.

 

[Porper]

Markets hate massive volume and range.

Maybe I am wrong but I wouldn't be going long, especially holding overnight.

This volatility hasn't finished and it is just guessing as to what the DOW will do day to day.

We could easily see a drop of 10% again one day soon when we wake up.

It is easier looking at a longer time frame, I have convinced myself we aint seen the bottom yet.

 

[tech/a]

About as expected Pete.

I used my get out of jail card yesterday.

 

[tcoates]

Call me crazy (but as I am not a day trade) there are at least 2 conditions I am looking for...

1. "rally" (for lack of a better word) to be sustained over period of 4-7 days.

(for the market to go up only 1 or 2 days does not make a rally or new trend)

2. see some form of higher low.

Til then its all down hill.

Tim

 

[tech/a]

Call me crazy (but as I am not a day trade) there are at least 2 conditions I am looking for...

1. "rally" (for lack of a better word) to be sustained over period of 4-7 days.

(for the market to go up only 1 or 2 days does not make a rally or new trend)

2. see some form of higher low.

Til then its all down hill.

Tim

Tim

Id add 2 more.
A stabilization of volatility
Some consolidation

 

[doctorj]

A stabilization of volatility

Does that make sense?

 

[tech/a]

Does that make sense?

Probably not but I know what I mean!

 

[Porper]

About as expected Pete.

I used my get out of jail card yesterday.

Sure is John, although I didn't expect the 10% rally.

Talking Elliot, the count is still looking spot on.I am not going to trade this bounce until my analysis is incorrect.

I am aiming at trading the next big leg down.

 

[MRC & Co]

Higher low forming perhaps? Hmmmmmm, I thought today would try and close the gap, guess not.

I still get the 'feel' a rally is coming. Too much bearish sentiment out there. Not sure who is left to sell this junk.

 

[Aussiejeff]

Higher low forming perhaps? Hmmmmmm, I thought today would try and close the gap, guess not.

I still get the 'feel' a rally is coming. Too much bearish sentiment out there. Not sure who is left to sell this junk.

Plenty of junk for sale overnight.... anyone care to buy??? :flush:

 

[CAB SAV]

US CPI Sept due tonight with Industrial Production Sept.
Tomorrow night, US Building permits Sept & Housing Starts
Rally?

 

[Ruincity]

US CPI Sept due tonight with Industrial Production Sept.
Tomorrow night, US Building permits Sept & Housing Starts
Rally?

I'll be looking at buying at the bottom of what looks prepared to be a down day..
I get the impression you feel that this will be compounded tomorrow?

Hmmm when to get involved...
Thoughts?

 

[prawn_86]

One more bank failure and this will just turn into another bull trap.

Or once that $700 bill comes into the US system im thinking that will cause some concern/uncertainty

Well didnt need a bank failure for a bull trap to happen.

Any new members, please be wary in these market conditions. One up day does not constitute a new trend. Preserve capital...

 

[CAB SAV]

I'll be looking at buying at the bottom of what looks prepared to be a down day..
I get the impression you feel that this will be compounded tomorrow?

Hmmm when to get involved...
Thoughts?

The way US data has been manipulated lately, I wouldn't bet any money on which way they will go, in no hurry atm but to assume because of a big one day fall that market will go up tomorrow is not guaranteed. Lot of us are looking at sub 7500 for dow & sub 3500 axo. Doesn't that indicate what you buy tomorrow will be a lot cheaper for me later?(if we are right of course)

 

[Aussiejeff]

Hey! Maybe this inspirational news could inspire a rally?

"BRITNEY Spears' new single Womanizer made a record-breaking leap to top spot on Billboard's Hot 100 singles chart overnight, underscoring her musical comeback after making headlines with her personal woes".

:hide:

[size=-2]Sorry. I took a Mega Irony pill this morning.[/size]

 

[Seneca60BC]

The most important points you didnt mention which is the numbers for US GDP and Unemployment Rate. An lower GDP and higher unemployment rate and your rally will be just another dream.

sorry to wake you up - but your dream of a rally this week is over LOL

 

[MRC & Co]

Plenty of junk for sale overnight.... anyone care to buy??? :flush:

lol. True, for the moment, very bearish. But one night is one night.

 

[LM]

Any new members, please be wary in these market conditions. One up day does not constitute a new trend. Preserve capital...

Quite so. Comment equally applicable to all traders. I cringe everytime I hear "this is the bottom" and am waiting for all such comments to disappear from forums before I am long again - downtrend.