The market is going crankier as the day goes by. It is so hard to put a direction trade now. Bad news coming in today like citibank, UBS and even the manufacturing data come in BAD. Did the Bad news affect the market ? Well not at all. Today the market just skyrocket fuel by BAD news . This is absolutely crazy. It is so hard to do Momentum trading. I wonder when will the market become normal again. Maybe somebody can tell me what is happening in this market?
The only reason that i can think of is the underlying bullishness of the people. Many people want and predict that the fed will cut rate again. Thus many people just buy and buy and buy. Okay i shall wait till the market go bad to normal before i do anything stupid. Yesh i still hold on to my stupid BSC PUT and once it hit my level i will just cut lost and move on with it.
Let see what will happen during the 2nd half of the trading day. WELCOME TO THE CRANKY MARKET ...
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2 comments:
Hi Akalawoo :
The DOW touched 14,000 back in Jul 2007 and subsequently went down.
Wonder whether this time it's able to sustain this level.
Yours Truly,
Tony Chai
My Options Trading Blog
Seems as though it didn't hold at this value for long. Its currently option trading at 12967.37 ha, 14k was the days.
Chadwick Montgomery
My Website
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