Quote:
Originally Posted by Hisam135i
Well lol couldn't have said that better myself  . With the way things are headed in my opinion, the downside of the market is MUCH larger then the potential upside, so like your self, I also currently holding a short position (SPXU). Here is a good article that literally jus got up 9 mins ago from the time of this post from Bloomberg:
http://www.businessweek.com/news/201...downgrade.html
And as you ended you post with
DON'T FALL FOR IT.
I couldn't agree more total bull sh*t happening right now in the global market place and in my opinion kind of risky to even trade in.. but what can i say haha the potential is worth it 
oh and also:
But all of you out there, working, know that the roughly 120,000 jobs being created currently have decreasingly lower wages
the way this trend is going..scary stuff not looking forward to graduating from college and looking for a job  |
Oh, nice SPXU hold. What entrance price did you get in on it at? And yeah, I figure there's a much larger upside in shorting this market than there is upside left going up. I think there will be jobs still, but competition is going to increase dramatically. But hey, this world is all about "who you know" and not "what you know".
Looks like tomorrow is going to stage a rally, looks like a rally that might actually drag in good volume too. Hopefully after retail investors get in we can cash in some good Short-money.
Trading range:
Upside: 1305 or 1316 (could see pullback at either of the two), but the highest I'd put this rally is at 1330. I really think the correction is due. Everything is way overbought, and tomorrow's rally is going to push the overbought status off the registered range
Bullish signals coming in on shorts I follow, so, Can't time the markets dead on, so getting the correction in-or-around a week is good enough for me.
*fingers crossed*.
Downside: 1250 or 1255. A lot of put options are camped there. Thats about an initial 4% pullback. Enough for a correction upwards, but we've been down as low at 1074 so it's not a stretch of the imagination by any means saying we'd definitely be back there again.