Tuesday, January 12, 2010
Temporary Buyer
I have borrowed the bull horns for this morning and am buying this morning ahead of the opening bell. The market is not overextended and I don't picture a selloff occurring before the major earnings start coming out later this week. Alcoa disappointed, but they are irrelevant in the big picture. The techs and banks are what matters. Everything else is pretty much meaningless during earnings season. I expect the gap to be filled today.
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11 comments:
Goldman, Apple, Amazon and GE are leading the way and have already started the fall. This may not be the best time for a bear to capitulate (July was).
Perhaps, I am just reading the tape, and this tape doesn't want to sell off. I am dancing between the raindrops. The story changes next week.
We could close in on Thursdays low of 1133 spx.
Just buy more on the dips dawg. I'm sure we will bounce a little today.
Good chance however that the near term uptrend is broken with today's action.
What do you think about the action Owl. Do you still think it fills today?
If we don't get a gap fill, we'll probably get very close. The morning action is mildly bullish. I am staying long.
What do you think about the laggard Nasdaq. Thanks....
Nasdaq is overowned, because the fund managers all love tech. I would rather be a buyer of S&P than Nasdaq on dips.
I just want to let you know dawg, that I'm supposed to finish up my assignment here by the middle of next month. I've been peppering the street with my resume for the last few weeks.
The amount of times I've hopped jobs and looked for jobs I know when things are good and things are ugly.
I think there are less jobs and more people looking for jobs than in summer 09.
It feels like things are worse than they used to be. The freeways were clogged up good in November and December. As soon as January came around, no more traffic again. Seasonal hiring.
I think we're gonna be cooked. But that's just my opinion.
Markets look like they're going to stay down today.
Pretty good sized big bar down day today.
Damage control. We'll probably bounce a little.
Staying long here. It is too late to sell.
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