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ANSWER: this is options expiration. Everything will move to max pain. Monday the market drops again.
My answer: I'm not good enough... yet!
What was with the market today? Why was it up so much on nothing? Volume was weak too. If I have ever seen a day like today, then I don't remember it. Anyone care to share some insight? Do options really matter this much? Indices closed near the highs for the day and near resistance levels established a few weeks back. I don't feel comfortable with these levels. It must be all this bear spray I've been using on my computer...
Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin Franklin
What was with the market today? Why was it up so much on nothing?
July core PPI -0.3%, hardly "nothing" when inflation fears have been one of the biggest drags on the market recently. If the CPI follows suit tomorrow morning, I wouldn't be surprised to see another 150-200 pts. on the Dow.
July core PPI -0.3%, hardly "nothing" when inflation fears have been one of the biggest drags on the market recently. If the CPI follows suit tomorrow morning, I wouldn't be surprised to see another 150-200 pts. on the Dow.
so negative is good? I guess I'm not as enthusiastic as everyone else.
Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin Franklin
Rob...you posted the Core...meaningless IMO...However the PPI inclusive was low too...But did you see the NY Empire Index???...Savvy investors did...Market is toast short term IMO...I really hope nobody here got sucker-punched....Doug(IIC)
"Trade What Is Happening...Not What You Think Is Gonna Happen"
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I just picked up a bunch of shares @ 1.06 (thank you dumb sellers) This is in my MT group
One hurricane in the Gulf of Mexico, and this is at $2
Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin Franklin
BWP breaking out on high volume today!!!! Put those seat belts on
BWP breakout failed today and I think it will begin to form a base here. Short term MACD is negative. Look for a test of $25.50. If that holds, this will turn out to be a very nice long.
Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin Franklin
Today, I have become fully invested in my MOMO portfolio. My latest transaction was to establish a long position in JST at an all time high for the stock: $11.19
A rebalancing effort will have to take place in my portfolio to distribute 1/5 of the total size of this portfolio to my MT and LT groups. This will be the second 25% portfolio gain so far this year once the changes take place.
Large gains in the indices on higher than average volume may have just wounded this young bear market. Earlier resistance levels were overcome and may provide some support. Both good reports on inflation and consumer spending seem to have been major factors in lifting the market. Conflict in Israel and Lebanon has decreased, and BP bringing half of the Prudhoe Bay oil field back on line have helped to reduce the price of oil, which may have also been a factor to the market upturn this week. The general mood seems to be positive.
Hide not your talents.
They for use were made.
What's a sundial in the shade?
- Benjamin Franklin
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