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View Full Version : Where are the bears?

optimus25
07-26-2006, 04:08 PM
Its been a nice 3-day rally. I never expected the market to be up today given the weakness this morning. The bears couldn't take the market down.

The short covers must have fueled the rally given the amount of activity the past hour or so.
madcowdisease
07-26-2006, 04:14 PM
Its been a nice 3-day rally. I never expected the market to be up today given the weakness this morning. The bears couldn't take the market down.

The short covers must have fueled the rally given the amount of activity the past hour or so.

Same thing we saw yesterday. It wasn't until the last hour and a half that it took off on Tuesday. The leaders today are oil and oil service. IMO, the hype in oil is overdone. There is too much speculation going on and even the BP CEO admitted the fact the fear is what has oil as high as it is. It's not a supply/demand issue anymore.

Granted we've had a 3 day rally, but with all the weak hands that have shown their faces all the other times we had a rally I'm banking on a big sell-off/profit taking tomorrow or Friday.
BuyOnDips
07-26-2006, 04:15 PM
I'm now positive on the year again. Hurray!
optimus25
07-27-2006, 11:12 AM
I'll be selling positions today and tomorrow.
madcowdisease
07-27-2006, 11:13 AM
I'll be selling positions today and tomorrow.

Prudent move.
Svenwulf
07-27-2006, 03:05 PM
flirting with red on the indicies.

sunsa beaches aint shakeing me out.
optimus25
07-28-2006, 03:18 PM
Got some good prices on my sells today. I sense that this is another short covering buy opp created by news of a slowing economy and subsequent cease in rate hikes. All the "fed is stopping rate hikes" rallies have met with failure. I don't know about you but a slowing economy scares me more than what the fed does. IMO.
Will
07-28-2006, 03:42 PM
I hope I didn't make a mistake today.
I sold half my JPM, because I feel I can buy that same half a lot cheaper this time next week.

I guess time will tell.
optimus25
07-28-2006, 04:10 PM
I hope I didn't make a mistake today.
I sold half my JPM, because I feel I can buy that same half a lot cheaper this time next week.

I guess time will tell.

That's a good question. JPM is a solid company. I wish I could have bought some in the low $40's. They have a great credit card business.
Will
07-28-2006, 04:22 PM
I bought at 38 and 39, so it has been a nice gainer.

It just pains me to sell such a stellar performer, but I feel it is due for a pullback.

The last 2 times it has pulled back to reach support at the 200 day SMA
I hope we get one more, to that level, as my stop is set at 41.20