I am staying long and believe today's trade is a puke out of long positions by weak holders. The volume is through the roof, volatility is high, and we're down 4 points on the S&P. I am going to keep my long position for a swing trade. My target is 1130 on the ES. A Bernanke confirmation next week should be a bullish catalyst.
P.S. - Despite the heightened volatility, the intraday range is still just 11 points. We've traded a lot of volume going up and down but ending up back to prices near the open. That tells me the short term downtrend is meeting support.
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Bottom is forming. Obama will probably decide to come up with some new rhetoric that will give investors confidence.
Not Sure. I am seeing a sea change. All the politicians want to get re-elected and the Massachusetts election has scared all the Dems. Aparently the great-unwashed were not to happy about the bailouts and congress spending money like a drunken sailor on crack. A close below 1107 would probably mean a test of next pivot 1090.
Seems like Bulls got their psyche damaged. They are afraid to buy now whereas just a few days ago, they were invincible.
The selling was so dramatic it started messing with people's emotions.
I feel I might have underestimated this selling here. Let's see..
still long is the way OWL???
i am long NQ here
Intrest rates will trump all!!!
Long EDC @ 117
OL DAWG
APPL WILL BE DA MESSIAH
APPL IS JESUS OBAMA IS ANTICHRIST
AAPL
I hope your are eluding to that everyone and their brother is going to start buying i-phones and mac with 10% unemployment.
The only thing that has me wandering is why bonds havn't been rallying.
Also why gold is hanging so strong
AAPL is invincible.
Unemployed broke schmucks on unemployment checks own and buy iphones.
dying people with cancer buy iphone apps
people in haiti with trapped under 15 feet of debris and rubble are still listening to their ipods.
AAPL is GOD
steVE JOBS U DA MAN
U GO GURL
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