Ayite Guys
**Friday night i posted my analyses based on news and discussions with other investors: **
“We are very much close to the bottom and there are 60% chances that market on Sunday will not only go up, it also make a record 1000 points gain”
it was 936 points gain so u can say almost 1000 points and it was record aswell, so this analysis was proven right.
but but but i just heard some Short sellers saying that “Market’s rally is over and now we r gona go and start selling after the thanks giving”.
and fortunatly i have closed all my positions for dow at 8997 and S&P at 995.75.
but wat do u guys would analyze tommorow?? is it gona continue the rally? or retrace in the night and go up in the morning? or its gona be an ungly day again and short sellers would be the winners??
i myself don wana go and start short selling so near to the bottom.
I still stick to my previous analysis that the market is in downwards trend. This was a relief rally, doubt it can be sustained. Yes the banks are being saved but the looming recession is just around the corner. The market will have a sustained rally once it can see through the looming recession.
its good that you took profits, others will be doing the same. fund managers will be doing theri best to earn back gains for their funds fully knowing that at a small sneeze general public will sell.
The thing is teh whole premise of wisdom of crowds only holds true to an extent, after a threshhold it becomes idiocy of mobs.
I would say aside from some bargains, take profit when you can, iu may not buy atthe bottom and you may not sell at the top, but you will have plenty of chances to buy low and sell high through newyears, as usual the honeymoon effect of newyears and then selloff.
Hm watever u guys said makes sense, and after reading u guess and listening to short sellers i m not really sure that m gona buy tommorow or no, i certainly don wana go for short selling being so close to the bottom.
and right now S&P is @ 1050.00. i might buy again if it goes under 980. and dow dropes 500 points. and gold comes to 820 (which is possible).
There may not be another rally like this anytime soon but there will be more short rallies and short crashes... do I sound like Waqar Younis in commentary box? :D
