Well, if you were short since December 27, 2007 that is great....the world has been upside down for several weeks. Recession in the air, sub-primes on the rope, credit tightening up, disappointing earnings....the list is long enough for sure.
Then came Monday, a holiday here in the USA and the markets were closed as the pacific rim took it on the chin. I found it very interesting to see why the US market was closed, we have a huge selloff.....seen funny to me.....just a little funny. But, after years of doing this everyday, it also seems normal.
You know, you see a stock selling off for some reason overnight, on low volume and then when the market opens everyone is heading for the door, you have to wonder who is on the other side of your trade.......and why would "they" be buying if the stock is crapola. Which brings me back to this open, the FIRST BAR TRADE was in one word.....WOW
Those in the chat room had a good run this morning right off the open. I wonder how many trader were shorting at some point this morning, thinking about the news, what MARIA said, and some newsletter thought. Maybe if you were one of them, you might want to think about why.........because it was a dead cat bounce.
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2 comments:
Refer to the dog and the duck picture - now this is what happens when you don't 'put out' !!! They too must have been in jail together -but obviously not long enough!
that is a dog and a cat.
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