Well, he had zero credibility when trying to guess foolishly. Now if he bets long at both ends of the market, he has a 50/50 shot at it!
.As long as the volume is at record levels according to the symetrical buying/selling law 'v' shaped rallies are possible. Thats why the dow could surge 3000 points just as quickly as it sold off. A trading capital outflow would result in longer recoveries.
Well, to be fair.....all the perma-bears (like EMRGLOBAL, who was predicting a cataclysm this morning on this very thread) keep saying the same thing too. All those who keep making worthless predictions (Dow's going to 14,000! Dow's going to 5,000!) are a waste of time. Traders trade what they see, not what they predict. Like surfers in an ocean.....they don't predict when a great wave will come, they wait and wait and then paddle hard to catch it once it shows up.
right, and when exactly did you see the big wave down coming in? February? October? piss poor analogy to surfing
I'm not a perma bear by any means. Look at your futures chart, down 233 points right now. Could mean nothing, could open flat. But if we open down 233 points, that is close to half the rally, washed away! Market penetrated support, support has been broken, all by a very small %...never the less, this rally was not a HUGE BUY rally. Bear Markets have rallies as well. You idiots have been calling bottom since 11000. Say it long enough and odds will be in your favor that you get a snap back. Over all trend has been "B E A R I S H". However, Bear markets have very violent snap backs, rallies. If you clowns truly believe that the "BULL" market is back or that the Market has found a "BOTTOM", well IMHO your wrong. Unemployment numbers, GDP data, Banking sector (CITI BANK ANYONE?) Nationalization of Banks, Auto, and soon the Marxist Revolution by OBAMA, the list goes on and on. And do you think that next quarter is going to be any better? Do you really believe that the US STOCK MARKET is going to rally in the next 5 years, back above or near 10000, let alone 11000? I still think the INDU will break 8000 again, falling to near 7000. However, even a bear market needs a breather from selling. So, the first break of the 8000 level brought short covering because the market did not PUKE. No worries, the market will test that level again, very soon.