Thursday, November 5, 2009

I am shocked by the strength in the market today

nothing else I can say except wow or WTF?

But taking daytrading short right here at S&P 1063 and Naz 2102


  1. unreal to me that longs are going to stay this aggressive into the jobs number tomorrow

  2. I would be more afraid to be short. There is 20% upside to pre-Lehman levels which appear to be inevitably hit. They recovery looks strong. I was the anonymous post before and I see a 10% run including today ahead of us. The year will close with DOW 11,000 and S&P of 1125 ish. I would hate to bet against the NAZ because tech is going to boom over the next 5 years with developement of China. China will get US into a new business cycle similar to WWII getting us out of depression. China has some amazing potential with an incredible balance sheet.

  3. we will see... I'd take the under on that bet of closing levels for 2009

    the only way i see those numbers in the DOW is if the dollar crashes. on the S&P 1125 could be possible as that is where you enter a lot of resistance.

    with unemployment set to touch 10% on the reported number tomorrow - all's not well, but CNBC would have you believing it as every piece of data they "spin" positive just as they did up until and during the crash. how stable is a market when investors are nervous that the fed may raise rates 25bps from ZERO!

    i guess i ask myself this - can we come out of a depression like environment and go right back to they way things used to be in one year with banks still in bad shape. no way imo. in the depression the market went up 50% off the initial lows only to fall back and make new lows. i am not saying we make new lows but S&P 870-900 is very possible.

    however, today is a show of strength from the bulls, but let's see how we close and how we handle the jobs numbers tomorrow.

    my daytrades will be stopped out or sold before end of the day... my swing shorts will be held with stops at 2009 highs since I have great entries near the highs on those...

    that's what makes the market great people vote with real dollars as to what they believe...

  4. closed at highs - well done bulls

    let's see if we can add another 2-3% tomorrow and bust me out of my short positions breakeven

    that would be disheartening but the life of a bear in 2009 as the bulls run rampant on any minimally good news item or even bad news item.

    hard to get in the way of irrational exuberance... but i play the way i see it. probably be easier just to get blindly long and put my CNBC party hat on everyday!

  5. check this read for comments that mirro my own

    this market is acting strange/rigged/ f'ed up for sure based on history?


None of my content is a recommendation to buy or sell any securities.

Please do your own research or consult an advisor before making any investments.