well that was pretty damn fast....too fast for me. From what I was looking for in my last post to you(NAZ 4200ish, SP 1450ish),,,, the NAZ certainly blew that 4200ish away in a matter of minutes. Interstingly enough, if the SP and DOW have started a 5 waver up from the late Feb/early March lows (what I was guessing on last week), then the count stayed intact with where their respective averages stopped today. When things get going that fast it is hard to get somebody to pick up the phone....much less get in an order, as I am sure thousands of others found out today. And isn't it interesting how the data feeds always go to crap when things start moving fast. I managed to get in a trade this afternoon for a quick 18 points on the Futures and bailed out.....my first trade in a couple months. I had somewhat forgotten about the anxiety/adrenalin rush..and there is no doubt that it is a rush...and a major bummer when they go against you. Is that why they call it gambling? uh...I mean investing.
If they bother with a "test and hold" I would imagine that your 'tech earnings bash' scenario will prevail.....what the hell, with the amount of $$$ waiting will there even be a legit test? When the Abbeys and Ralphs of the Big Money state they expect a slide you know that they have already been selling into the tops and are loaded up on the sidelines.....then they make their statement and it helps fulfill their 'prediction'. I swear that Ralph does it on purpose .. ie. market starts getting toppy, Ralph is expecting a pull back and then another strong leg up, so he makes a statement that he can see another 500 points upside potential and his statement results in another smaller spurt up while he is selling and locking in profits hand over fist......then the pull back occurs and he is loaded for bear. I often wonder if some of the big guns get together after midnight, compare notes, decide this is a good spot for a pull back, sell into the strength and have a predetermined dipbuying spot already picked. Frankly, I would be surprised if they didn't, they are playing the same game with the same objective.
Stink On |
