House amendment will not tank market and if it does, it won't last long. Charts are bullish. I could care less about anything else. The charts are bullish, until they are bearish.
Some of you clowns, mentally disturbed doomsayers and frequent posters who probably get paid 6 cents a post by small hedge funds and monkey algos act like you're political consultants, yet all you are is 30 share trading people who post on message boards. I highly doubt even 2% of you make over $400,000. The fiscal cliff is mo consequence to you from a tax standpoint. If you were political specialists or real money traders, the last place youd be is on a message board. Some of you swore the market would tank Monday. All weekend long, you bragged about your VXX calls and spy shorts and got BLASTED. The losses some of you incurred were better than 30-40%. Yet you still believe your say matters?
I'm 60+ years old. This effects me more than it effects you. My retirement plans and accounts are long and strong, and made me fantastic returns all year. Who cares if it was based on fed intervention? Who cares if it was propped up? The money in my accounts is real, and due to my returns far outpacing inflation, provides me larger and larger baskets of goods. Plain and simple.
All this is..is political theatre and posturing by the biggest circus in history. The bill will pass. The markets will fly, because the charts say so. And in the event you do get a small sell off, just BTFD. It always works.
Spread em wide, shorts.
This country have never been more divisive in our history. Populism and class warfare anchored by this administration are only exacerbating the problems. The Congressmen on both sides of the aisle are fighting for their voters back home.
Compromise may be a solution, but given the issues, I just don't think a fair compromise is achievable.
But as for the bears being smoked again, as I'm currently long, I hope that's the case. As a trader, you can't stay on one side of the trade all the time. Any additional short covering rally from here should probably be faded, in which case I'll probably go short. It doesn't matter how you make the money trading, as long as you win more than you lose.
Bro, you are wrong....all technical indicators were indicating a sell signal before Monday's ramp-fest.
The 10 day EMA was collapsing under the 100 day EMA and even other indicators were flashing red. I am short myself and I thought my position was toast yesterday night...but with all the $hi! that Cantor is stirring up, I may make money afterall.
IN any case, the long term outlook is definitely bearish for the stock market and the US economy as such
(long 10 VIX Jan'16 calls @1.10, strike price 23)
Gaptun-key words to your post above was "before monday" and "you may" make money. But then monday happened. No rally OR sell of lasts 1 day. There will be continuation. What separates great traders from good ones is knowing how to spot a trend before it happens. We will see 1440 soon. From there, market will decide if it wants to test the 2012 high or flush. From there, I make my decision. Best of luck to you.
"RicoBronx" Yes I am 67. And based on your posts, you sound like a mentally unstable individual. I have flagged numerous posts of yours and have reported you to yahoo for violations of their terms of service.
You have no class. Insulting veterans of this country who have fought for your freedom such as myself, as well as a senior citizen who has been around this market long before you were dripping down your daddy's leg in a motel 6 somewhere proves what kind of disgusting, low ranking member of society you are.
You're wrong. Market will will crash hard in January and there are now many Bearish chart signals that have been triggered in the past week. Just because IBD now says we are back to "confirmed uptrend" they are still showing 5 and 6 distribution days on their Big Picture just in case and will go back to under pressure or downright correction in a NY minute if market sees large decline on volume tomorrow.
Sentiment: Strong Sell
Ibd man, I'm wrong? Being a new guy to this board, I have read your post history and it seems you went long every time the charts said sell and went short every time the chart said buy. I will start using you as a contrarian indicator as your baseless and worthless opinion is unreliable and useless. I can only imagine the losses you have incurred. You're system is terrible, you have no skills and I wouldn't listen to a word you say based on your history.
And pjw, you were one of many bragging about your short positions all weekend and got smoked. I sleep well knowing I have outpaced inflation and live a comfortable lifestyle. You sleep knowing you have the largest money printing system in the history of man crushing your shorts, and for all your bashing and nonsense, you've made mere crumbs here and there when you could have been eating cake. Regardless long or short, the goal is to make money. So me being long, following the trend and making profits even in a hyper inflationary, money printing propped up market environment is far better than fear pumping, end of the world losing money money system like you.
What is it? Do you feel smart being short and losing your shirt for it? Enjoy the crumbs pal. Keep pumping that fear. Based on your posts, positions referenced in them and simple math to calculate your huge losses, It's working great for you.