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DJIA (DIA) S&P 500 (SPY)

Market Currents

Monday, July 6, 2009
5:40 PM TweetThis

This news story has 18 comments:

  •  
    All of the above. They have no business doing what they're doing.
    Jul 06 05:46 PM | Link | Reply
  •  
    Yup. But if it weren't for the chasers who would I have to sell to?

    On Jul 06 05:46 PM Graham and Dodd Investor wrote:

    > All of the above. They have no business doing what they're doing.
    Jul 06 06:17 PM | Link | Reply
  •  
    The mutual fund investors? Really? I thought the plunger team was the one working today... and for the last three months!!??!! Go figure.
    Jul 06 06:40 PM | Link | Reply
  •  
    Well, I was buying today, but my 200 shares of QQQQ and 200 shares of LRN probably didn't add too much to the bounce. :)
    Jul 06 07:31 PM | Link | Reply
  •  
    Not obvious where to invest. The new rotation fad probably makes GM the next buy because it is down so far...Of course, doing something stupid doesn't always pay off...nor does doing something brilliant...

    There is no longer such a thing as investing anyway--just devising ways to steal from others.
    Jul 06 08:14 PM | Link | Reply
  •  
    And you bought those at the start of a major downturn because ...?


    On Jul 06 07:31 PM hasbeard wrote:

    > Well, I was buying today, but my 200 shares of QQQQ and 200 shares
    > of LRN probably didn't add too much to the bounce. :)
    Jul 06 08:18 PM | Link | Reply
  •  
    could it be that, with imminent destruction off the table and the vix at a reasonable level, buy and hold investors are simply buying the assets that will appreciate most significantly over the next 10+ years (irrespective of their recent impressive gains)?

    naaa, couldn't be...
    Jul 06 08:51 PM | Link | Reply
  •  
    I'll take "C" Alex
    Jul 06 09:02 PM | Link | Reply
  •  
    You are right, it couldn't be considering we are in a secular bear market and stagflation on the way.

    And those are the bullish scenarios.

    On Jul 06 08:51 PM themackattack wrote:

    > could it be that, with imminent destruction off the table and the
    > vix at a reasonable level, buy and hold investors are simply buying
    > the assets that will appreciate most significantly over the next
    > 10+ years (irrespective of their recent impressive gains)?
    >
    > naaa, couldn't be...
    Jul 06 09:31 PM | Link | Reply
  •  
    QQQQ is short term oversold. LRN had a bearish Baron's article written on it recently. About a third of the float is sold short. I'm looking for a bounce in the indexes over the next couple of days, and I hope to be out of both stocks before earnings season starts at the close of the market on Wednesday.


    On Jul 06 08:18 PM Missing_Link wrote:

    > And you bought those at the start of a major downturn because ...?
    >
    Jul 06 09:58 PM | Link | Reply
  •  
    There are still buy-and-hold investors left after 2007-2009?

    Seriously, why would anyone buy now when you can wait and get it cheaper?

    On Jul 06 08:51 PM themackattack wrote:

    > could it be that, with imminent destruction off the table and the
    > vix at a reasonable level, buy and hold investors are simply buying
    > the assets that will appreciate most significantly over the next
    > 10+ years (irrespective of their recent impressive gains)?
    >
    > naaa, couldn't be...
    Jul 06 10:12 PM | Link | Reply
  •  
    i don't really think your average investor really knows what he got into prior to October 2007 so I wouldn't expect the crowd to have a better handle on the economic outlook now....so as usual, earthings are chasing the best performing (short term) asset classes....so that would be answer B. Then again as the crowd buys high and sells low we are likely headed for C before long ....
    Jul 06 10:17 PM | Link | Reply
  •  
    QQQQ is not oversold. Last Thursday initiated a major signal that the downtrend that began on 6/15 will continue and accelerate.

    And if you take any action based on an article in Barron's, you're crazy ... especially if you're going long based on a bearish article. Barron's isn't so bad that you can use them as a reliable contrarian indicator.


    On Jul 06 09:58 PM hasbeard wrote:

    > QQQQ is short term oversold. LRN had a bearish Baron's article written
    > on it recently. About a third of the float is sold short. I'm looking
    > for a bounce in the indexes over the next couple of days, and I hope
    > to be out of both stocks before earnings season starts at the close
    > of the market on Wednesday.
    Jul 06 10:18 PM | Link | Reply
  •  
    Do you use RSI (2) as an indicator?


    On Jul 06 10:18 PM Missing_Link wrote:

    > QQQQ is not oversold. Last Thursday initiated a major signal that
    > the downtrend that began on 6/15 will continue and accelerate.<br/>
    Jul 06 10:28 PM | Link | Reply
  •  
    Yes, among others. I use 7 different indicators built into a single classifier and thoroughly backtested in StockFinder.


    On Jul 06 10:28 PM hasbeard wrote:

    > Do you use RSI (2) as an indicator?
    Jul 06 10:46 PM | Link | Reply
  •  
    buy buy buy buy buy buy everything that breathes
    8-)
    Jul 07 05:58 AM | Link | Reply
  •  
    Been watching Cramer again, have we?


    On Jul 07 05:58 AM imex68 wrote:

    > buy buy buy buy buy buy everything that breathes
    > 8-)
    Jul 07 01:23 PM | Link | Reply
  •  
    ^^^

    The market was down 2% and the MACD shows the downtrend continuing tomorrow. I consider myself vindicated.
    Jul 07 11:57 PM | Link | Reply
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