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| | | Forum Newbie
Group: Forum User
Last Login: 7/21/2008 9:20:20 AM
Posts: 8, Visits: 14 |
| | The past week or so the stock market either got killed or was a little bit positive. Today the market was up 150 points and oil breaks below the 140 level which they said was originally a key resistance before it oil broke through couple weeks ago. I know the decrease in oil has a lot to do with economic slowdown and speculation of decreasing demand, but could this be the bottom? |
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| | | Forum Member
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Last Login: 9/15/2008 2:36:40 PM
Posts: 44, Visits: 35 |
| July's a comin, which means..........(drum roll) that earnings for half year mark are out of the financial institutions in the coming weeks, and while the market may react positively to negative news (yes its not a typo) it seems hard to say that we are at the bottom.
A few pips a day keeps the creditors away. |
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| | | Forum Newbie
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Last Login: 10/2/2008 10:27:53 AM
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| | yeah...and let's face it.....it's still $136.00 a barrel oil. Depending on what oil does next I think peoples attention will turn back to earnings and the economy. It'll occur to people that lower oil is far from a panacea. |
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| | | Forum Member
Group: Forum User
Last Login: 9/15/2008 2:36:40 PM
Posts: 44, Visits: 35 |
| a bottom, what does one construe a bottom, a point where we stop making fresh lows....or a turnaround, because i believe we are still far from either. Housing sector is not recovering, and the turnaround may come, but will it be because of fundamentals or because there is a fresh batch of liquidity helping the markets along like the rally of 2003-2006
A few pips a day keeps the creditors away. |
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| | | Forum Guru
Group: Forum User
Last Login: 8/21/2008 1:34:31 PM
Posts: 71, Visits: 70 |
| Check out what Bob Janjuah from RBS is predicting for the next quarter or two. Apocalyptic...
"The lemmings are now just staring at the screen. The pro’s and leaders are planning on making the most of this situation. Let’s be pro’s. " |
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| | | Forum Member
Group: Forum User
Last Login: 9/15/2008 2:36:40 PM
Posts: 44, Visits: 35 |
| Really tough to pick a bottom, essentially similar to the old traders expression of catching a falling knife. The situation becomes a lot harder when you factor in the fact that it is summer, liquidity is thin - especially at the end of August which tends to be the most vacationed weeks of the year. Best is to stay pat with some of your original ideas....or at the very least shorten the size of your positions.
A few pips a day keeps the creditors away. |
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