I'm betting the stimulus package can't do anything but disappoint. Classic buy the rumor, sell the news.
Obviously if the Bulltards manage somehow to party on, stops should be placed just above the prior swing high of roughly 877 on the S&P 500.
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Anonymous
said...
Everybody expects it to be a "sell the rumor"; that's why I'm not so sure it will happen (even if I'm rather short right now :)). I agree with you on CPC, it points to a top on the markets.
I couldn't agree more -- let's hope the bulls don't prove us wrong. Of course, you're the guy who shorts into futures limit up situations with abandon so I take comfort in your conviction!
Ben, looks like a major triangle going back to early October is about to break. I see the bottom end of the triangle around 825 on the S&P. If it breaks, then we're gunna test the lows. It may actually be a good spot to go long with a stop around 810, where you'd go super short.
The Financial Ninja is a collection of my thoughts and opinions about current economic and market conditions. These are not buy and sell recommendations. Use your head and do your own research. This is a forum to stimulate discussion and debate.
I started trading during the tech bubble when I was still in high school. My trading has financed my education and I have since completed a BA in Economics and an MBA with a concentration in Finance. I have worked as both a proprietary equity and fixed income derivatives trader.
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5 comments:
Everybody expects it to be a "sell the rumor"; that's why I'm not so sure it will happen (even if I'm rather short right now :)). I agree with you on CPC, it points to a top on the markets.
got to agree, I'm short and have been adding but it just looks too easy to be honest
I couldn't agree more -- let's hope the bulls don't prove us wrong. Of course, you're the guy who shorts into futures limit up situations with abandon so I take comfort in your conviction!
Hehehe...
I love Timmy!
Ben, looks like a major triangle going back to early October is about to break. I see the bottom end of the triangle around 825 on the S&P. If it breaks, then we're gunna test the lows. It may actually be a good spot to go long with a stop around 810, where you'd go super short.
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