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Market Timing (ETFs) Forum > How long will this rally last?

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EnglishTeach

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Posted May 26, 2008 (02:56PM)
What do you think about post-Memorial day markets?  It took a huge trim last week when oil went up.  The market doesn't seem to have the same "let's ignore bad news and buy" mood.
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MLtrader

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Posted May 27, 2008 (12:42PM)
I really don't know.  This market is very irrational, but  my guess is the top has already hammered in at 1440 in the S&P.  I think it will retrace up a bit from here before it heads down again.   That's how my trades are postioned at this moment for this move.  What are you trading?  
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EnglishTeach

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Posted July 22, 2008 (05:14AM)
Market needs to find some other reason to move up other than a falling oil price...
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MLtrader

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Posted July 22, 2008 (06:13AM)
Very true..although there is no good reason to go up, but I think the technical has changed since last week.  It seems irrational, but market sometimes acts that way.  A good example is this past March.      
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EnglishTeach

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Posted July 23, 2008 (07:33AM)
I've been trading QQQQ but I'm thinking of changing to SPY since the Tech sector seems to be getting tired.  Several tech companies are coming in short of expectations in either earnings or in outlook.  The Dow and financials are looking nice short term.
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MLtrader

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Posted July 23, 2008 (08:42AM)
I agree... techs still have more downside to go before it's good a value buy.   financials and SPY came down a lot and have more upside.  I think overall it's a little overbought at this moment... i would wait for a pull back before going long.   
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EnglishTeach

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Posted August 06, 2008 (05:50AM)
Buying puts today on the QQQQ.  Yesterday's almost 3% climb made the puts cheap.  It's moving sideways and a little positive today but as of lunchtime, it still has broken over the $46 upper resistance.
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MLtrader

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Posted August 06, 2008 (11:49AM)
The market has climbed a lot over the last two sessions.  We should have a breather tomorrow, but  I am expecting the S & P to test 1300 sooner or later because the trend is still trending higher.  There will be a lot of resistances at that level.  Therefore, I think i would buy puts over calls at this moment due to limited upside and more downside or wait for a pull back before going long. 
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EnglishTeach

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Posted September 22, 2008 (07:38AM)
Any thoughts on RIMM's earnings coming up on the 25th?  I had some calls expire worthless (should have had stop losses, but didn't).
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MLtrader

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Posted September 24, 2008 (04:39AM)
It's very difficult to make any plays on earning on RIMM at this level considering the price has came down so far.  I know I am not playing it.  I still think the guidance gonna go lower considering the economic we are in but it's hard to add more downside to this after it came down so much.   Aside from this, the bailout plan is in progress.  There is just too much uncertainty to formulate a trading plan.       
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EnglishTeach

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Posted September 29, 2008 (10:17AM)
good call on the guidance.  it's (RIMM) taking a beating, along with AAPL and the market overall.
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EnglishTeach

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Posted October 27, 2008 (06:59AM)
I'm wondering if many in the market will see the long-awaited positive home sales as a buying sign.