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tsptalk's Market Talk
- Thread starter tsptalk
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clester
Well-known member
Looks like new lows on c and s funds as well on the close. The question now is where will we bounce?New lows on the leader (Dow Transportation Index).
We now know when at least. What the heck happened the last hour!!
Crazy day, but after the back to back 2.5% losses (and an intraday 3rd day) and hitting new annual low, the odds were in the bulls' favor. As wrote in last night's commentary (http://www.tsptalk.com/mb/entry.php?1481-New-lows)...
We may have more room to run.
Holy cow, did I have a big week or two in my IRA trading TNA, TZA and FAZ. Too bad my TSP had to sit in bonds the whole time.
Congrats Tom! Look at some of the after hours trading. Big boys skimming a little??
RealMoneyIssues
Well-known member
Too bad I can't day trade and the evidence to show whether I should hold overnight has been slim... I have made a few profitable trades these last 2 weeks, but finding a trend is, well, IMPOSSIBLE...
Congrats !!
Birchtree is correct....this is just a correction (def:<20%), only 19.99999% down from the peak (SPY). Wait till friday.
RealMoneyIssues
Well-known member
BT is only one side, there is another. I don't care in the long run which is right, but I will prepare myself for how the market moves. Hopes won't make it go up.
ADP report tomorrow, non-farm payrolls and unemployment reports on Friday... Which way were you "hoping" the market will go on Friday? Even if the market closed above 1100, don't mean the Bear market won't happen, just not today...
Watch, listen with an open mind, and make your moves with how the market dictates, not how you want it to go... Just my 2 cents.
The 50-day EMA is holding so far this morning, but it usually does on the first test. The market needs a rest because of its recent run, but should the S&P breakout to the upside, it could use the Aug - Oct highs as support. It hasn't broken out yet, however so let's see how the pull back plays out.
RealMoneyIssues
Well-known member
I like it when you talk dirty...
I did some ETF long buying (gambling) toward the close today and also nibbled on a partial position in my TSP today before the deadline. I noticed that, since the original sell-off in early August (flag pole), the market did not go down for much more than 3 or 4 days before bouncing strongly again. Look at the chart above.
That helps with the ETF trades but it's a little more of a gamble in our TSP unless it's another hit and run, which cost me quite a bit (missed gains) in October.
That helps with the ETF trades but it's a little more of a gamble in our TSP unless it's another hit and run, which cost me quite a bit (missed gains) in October.
Happy_Trails
Active member
With so many expecting 2011 to repeat 2008, should we expect the opposite to happen? I notice this theme everywhere - everyone seems to want to draw parallels between the two years. Could the market just go into hyperdrive instead?
Happy_Trails
Active member
I've been had! But seriously, most want to go short it seems like. Tough to find many bulls among the analysts. Not sure why our Sentiment Survey is so bullish.
It seems like the market is always up 200 points on the day we take the survey.
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