Dow tape was very NEGATIVE......as we closed below Oct 10Th which was 8451.19 and also below Nov 12Th which was 8282.66........
Dow is still ABOVE intraday LOW on Oct 10Th of 7773.71 & close of 8175.77 on Oct 27Th...Dow closed today @ 8273.58......only 2 points above Low of the day.......
What is the tape telling us ?
It is telling US that there IS tremendous FEAR which IS preventing the indices to make any GAINS.....
VIX the fear index closed UP 2.84 to 69.15....UP 4.28%.....
Technicals have NO meaning in this FEAR driven TAPE.....
No idea what this market IS waiting FOR.......
Everybody is CONFUSED including ME...as valuations are RIDICULOUSLY LOW...BUT NO BUYERS????
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
ATL gas $1.84 dropping. Traffic worst I've ever experienced! Shoot me!
Gas prices lowest in 2 years. Home prices lowest in many years. Lowest interest rates for mortgages 5%! Wages never higher. Automobiles at give away prices. War may be ending soon.
So why is the market so fearful?
Best Regards
Hi Standards,
Close today IS an indication of extreme FEAR in the market.
Looks like there IS a need for another V bottom???
I have NO clue about lack of BUYING...
Saleem
Hi all
why market going down 200 to 300 poits in last 20 minutes ????This market is under hedge fund controll.And CNBC , JIM CREMER creating fear among small ivestors.I believe if you can hold for few months ,you can make lot money.ibn, fwlt, upl , v, dsx, nat, fro, joyg, fcx,jpm,bac....thanxs
Hi Ds,
PATIENCE is in short supply for most traders/investors.....they are ALSO selling @ the sign of first RED in indices.....
CNBC has completed their FEAR mongering to the HILT.....
Saleem
SALEEM
The only good thing is we closed 2 points above the low of the day
I could not do a successful day trade I got caught in the huge sell off at 230-to 4PM ugh!! Grrrrrh
Losing 40 smackers is not awful but I own a sea of red with no relief in sight!
To day I go to Red Cross at Walter Reed to volounteer to the wounded veterans!!!
Cheers to all
God Bless all
Hi Madmax,
Daytrading is very difficult for most...only few CAN navigate with profit in this CRAZY market.
Good luck with your positions..as we are ALL severly UNDERWATER....
Saleem
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