Saturday, February 05, 2011

Day Traders-weekend comments Feb 5th

Next week should get more volatile,
but still dont expect anything more serious than maybe 3 %  - if that

Bradley on

High energy cluster on 13th should make for a stronger close that week

yesterday's activity index ran to a high of 600 by days end and we see the outcome
but has dropped back to 300 as of today, but there's a long time between now & Monday

90bars hit yesterday at 3pm, and the last hour turned up after 2:45pm

7th - dont follow the crowd or dont be misled
8th- calm today
9th - postive changes
10th- adverse trends today= hornets nest
11th- afternoon break thru



Abdullah said...

I am going to do something equally as stupid. I'm going to call for a pull back, and it should start this week. I know I know.. if you want to look really dumb, just toss out some top or bottom calls. Well that's NOT what I'm doing.

We haven't had a correction in a long time. We are overbought in every sense. The tensions rise like a stretched rubber band. Each time the market wants to pull in, they rush in with Benji money and buy it up. Well, I think its about time that wall Street fleeces the latecomers to the party.

I am not saying we are seeing the top. What I'm saying is that we're probably going to get a 10% pull down in the very near future. That pulldown.. if indeed it does come... will get bought up and we'll soar back up. I don't expect the "real" top to hit until after May.

What you guys think?

Jay Strauss said...

thanks Abdullah for trying to get more people to comment, but I think
everyone is asleep at the switch, and expects the mkt to just trudge on with a slow creep upward