When it opened BNB shot up 114% $1.80 now it has dropped quickly to $1.29 and there is no shorting
I have to say I am enjoying todays action. I mean you will have to laugh if we end the day negative. Just like what the rest of Asia is looking at currently.
TH, do you think Americans will see through the smoke and mirrors of the fed and gov to retrace or they will believe its good (getting lumped with god knows how much debt) and go positive.
Was interesting to see the US dollar getting dumped again last night, but the Dow up 350 points, it's pretty obvious this is just short covering. Think about this; gold was up $90 or around 11% for the week, while the Dow finished down 40 points or about 0.3%. So instead of people shorting all these stocks, where will the money go?
Personally, I reckon we may see more money pumped into commodities because of the falling dollar and this ban on shorting stocks, thus putting more pressure longer-term on the market with higher costs and higher interest rates eventually. Stagflation anyone?
So now who do we blame?
The US Government for the gross mismanagement of the worlds largest economy.
So another fun day ahead.
IMHO - It's only a matter of days before all this comes unstuck, the whole idea is flawed.
It's sheer desperation that people have pushed the index up based on the hope that George Bush can fix the worst financial crises in the history of the free world.
GWB: Hey guys, I saved up a trillion dollars and thinking about where to start in this trading thing anyone got any advice/books to read? I'm thinking fundamental analisis but keen to learn about techincal analysis.
Allow me to make a slight modification:
GWB: Hey guys, I got a margin loan for a trillion dollars and thinking about where to start in this trading thing anyone got any advice/books to read? I'm thinking fundamental analisis but keen to learn about techincal analysis.
So should the solution be to ban technical analysis? Or ban Whiskers
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