What a quick retrace. Anyone else have whiplash? I feel bad for those who sold out sub 8,000.
Will s&P hit 1,000 today??? I have a fear that there will be massive sell-offs at the end of day to lock in profits. Let’s hope not. Edit: I should say, profit for those that purchased at the end of the week.
The end of the day will be very interesting indeed. Can’t imagine that the hedgies are done liquidating.
SOURCE: FLY Has the market bottomed? Stocks continue to trade near their highs of the session. After hitting a low on Friday,the averages are up more than +12.0%. Today’s action begs the question – is this is a fool’s rally, or time to buy? Both sides of the debate have merit with the bulls saying stocks were way oversold and were poised to rally. In addition, on Friday the P/E ratios on stocks were at their lowest point since 1989, and this weekend’s coordinated central bank actions were a positive for the markets. The bear case is that there is accelerating weakness in the economy and that GDP estimates continue to be lowered. Additionally, in a bear market valuations tend to overshoot on the downside with P/E ratios typically hitting single digits.
kcin Wrote: ------------------------------------------------------- > http://www.youtube.com/watch?v=TBtpyeLxVkI just sent it to tim sykes. : ) -
kcin Wrote: ------------------------------------------------------- > http://www.youtube.com/watch?v=TBtpyeLxVkI WTF Maybe this is a sign of market bottom, when there is so much blood on the floor that analysts are resorting to Sh1thouse videos to communicate vice meaningful conversation.