miketranz
961 posts
msg #59190
- Ignore miketranz |
1/21/2008 4:19:37 PM
I just read the Dow futures are down 520 points.Nasd futures down 76 points.This could get real ugly................
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nikoschopen
2,824 posts
msg #59197
- Ignore nikoschopen |
1/21/2008 6:18:35 PM
Crap, ure right!
Dow futures (YM) down 483
S&P futures (ES) down 57
Nasdaq futures (NQ) down 73
I think ppl are asking just what IF Ambac goes bust?! All hell break loose, if you ask me.
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maxreturn
745 posts
msg #59200
- Ignore maxreturn |
1/21/2008 6:49:23 PM
Don't fret guys. Go with the flow! After the last 2.5+ year bear market I endeavored to really study the market and how to take advantage of bear market rallies. I'm ready this time.
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nikoschopen
2,824 posts
msg #59203
- Ignore nikoschopen |
1/21/2008 8:14:33 PM
We're way oversold at the moment. This is prolly big enough to trigger a circuit-breaker. At any rate, I just took a small long position in the index futures.
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luc1grunt
622 posts
msg #59204
- Ignore luc1grunt |
1/21/2008 8:33:27 PM
Niko, I just consulted the ouija board and it says you are well positioned. Me on the other hand?
Gotta love the ride.
Hope wifey's 401k buys the dip and not the bounce!!!
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nikoschopen
2,824 posts
msg #59205
- Ignore nikoschopen |
1/21/2008 8:38:53 PM
Thanks Luc.
Lucky me, indeed. It's been going higher since I hopped on.
Smile!
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nikoschopen
2,824 posts
msg #59206
- Ignore nikoschopen |
1/21/2008 8:47:55 PM
This is just a rough guess but if we were to get a long tail or a hammer formation on Monday, man, you better get out of the way and quick too, for this might be the classic head banging selling climax just before the Fed policy meeting convenes.
Just my otherwise useless 2-cents.
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mimi
63 posts
msg #59209
- Ignore mimi |
1/21/2008 10:11:02 PM
http://www.cbot.com/cbot/pub/page1/1,3248,432,00.html
This is good site to see realtime dow future-trade.
What do you think emergency rate cut? Are we going to have one?
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nikoschopen
2,824 posts
msg #59211
- Ignore nikoschopen |
1/22/2008 12:05:31 AM
If Bernanke & Co. gives us the emergency rate cut with only a week to go before they meet for their usual brainstorming session, that alone will send a very negative message to the market. Traders will interpret this as to mean that the economy is in such a dire strait that the only alternative is for the Fed to 'fess up by coming out clean with a "surprise!, suprise You gotta frigging kiddin' me!" rate cut.
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marine2
963 posts
msg #59256
- Ignore marine2 |
1/22/2008 10:27:21 PM
Why take chances with the market as volitile as it is. I was 90% cash and 10% equities then another hit came today. Does it surprise you when the barrel of gas is so erratic, the housing market is still plummeting and hasn't found its bottom, many states are showing recession, Pakistan is creating more nervous tension. There are times to play the market and certainly times to lay off and wait till the negative atmosphere clears out and shouts at you to come back in and play again.
Timing is everything. Only the experienced traders have that knowledge and gut feeling on when they should be in or out of the markets. But, even they get their rear kicked at times but that's how they cut their teeth. Watching too much CNBC and other financial channels can overwelm you with bullishness bs since they make money selling you on being a bull. Turning a blind eye to all the clutter and just logically thinking what really is happening will make you a better, smarter trader.
As the late Jim Valvano, basketball coach that died of cancer, once said, "don't give up, never give up".
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