Im currently in each way with index warrents, with more weighted short than long.
Are we going to 3000 - I have no idea, but i hope so. I have to start making some of my losses back
When the carnage ends; it doesn't necessarily have to end in a mighty up rise. Many (myself included) stipulate that the market will merely trail sideways at the end of this ... perhaps for many months, or even years. By the time this is over, average-joe investors will be so fearful of the markets; that they'll swear off of them for years. Credit will be scarcely available, and few will want leveraged positions - so, there really will be nothing to fuel a mighty rise.
So long as I see comments like this, I will not be buying. People still have hope for a bounce, folk are still talking about stocks being oversold, etc ... I want to see people giving up
Remember, there's always a chance the rubber band will snap:
With regard to trying to pick possible trends/turning points on charts, why do some use a linear index scale (such as yours) and others use a non-linear index scale (chart two posts above).too obvious??
With regard to trying to pick possible trends/turning points on charts, why do some use a linear index scale (such as yours) and others use a non-linear index scale (chart two posts above).
The non-linear scale used strikes me as the correct one to use but would obviously show a different result in where your lines intersect the index graph.
Really looks like it's out of the textbooks I have reading, and hopefully these patterns will continue subdividing upward in the days ahead. The key date was 30th October and the low came in one day earelier than expected. Let's see if this pattern continues to surprise the bears, if anything for at leats the next week.
Let’s see what “time” brings OWG. I suspect something else might be brewing here, and the rally will persist for longer than expected. Today possibly had the hallmarks of a developing 3rd wave of minor degree, but we will know soon if that is right or wrong.
The low in the SP500 and DJIA on 10th October ended a major cycle, as such I will hang onto my longs for a few more days possibly even another week
omfg.... what's going on out there?
am i in an alternative universe or what?
every morning i wake to check the overnight index... i find myself speechless...
so.... 3200 has been broken... where to now???
so.... 3200 has been broken... where to now???
3200 hasn't been broken?
Someone made an earlier comment that second guessing this market was at best, difficult.
In my mind it is irrelevant to which camp you belong... technical or fundamental.
But I must express my admiration for those who diligently practice their craft picking the bottom ... a real show of courage.
For those who have any equity left and are sitting on the side, maybe they'd like to comment on the sub 3000 hypothesis.
That depends on the odds.Second guessing any market is gambling not trading.
Gambling is difficult because you are a net loser
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