Unfortunately MUCH more weight is being placed on any little positive news versus all the horrible news out there!!
Sooner or later we're gonna have the stretch of our lives!!
Posting of Real-Time Trades and a VERY SIMPLE technique that makes TRADING SIMPLE!!!
2 comments:
i dont think its actual traders putting that much weight into the news, but rather the ppt are engineering short covering rallies. yesterdays 200+ day when looking over some sectors out of curiosity, i saw some HUGE gains in autos, home builders and financials (esp mortgage related)
the sectors with the worst fundamentals and most shorted. its annoying at times, but at the same time, gifts for better prices for our positions.
MSNBC says the market is being held up in part today by shorts covering on Merill Lynch.
Let's see what happens when Bush has his press conference this afternoon on the mortgage crisis. I wonder what flavor the koolaid is going to be today.
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