DOW Up 416 Points: Biggest Gain in Five Years

[MARK JOLLIFF]

I've been shorting thru ETF's and was at an all time high on Monday. I made the commitment to sell 10 minutes before closing and wait to see if the market rallies and then buy in again. This strategy has played out extremely well even though sometimes I miss. Well to make a long story short, the time displayed on the bottom of my puter screen has not adjusted for daylight savings time. All of a sudden at "12 o,clock" all the numbers on my screen froze. I staired at it for 10 minutes thinking technical difficulties. I even turned MSNBC and I swear to god thought they were having the same problem. Needless to say I really took it in the shorts yesterday to the tune of 7k. That's o.k as I'm still up mucho. But I never cease to amaze myself when it comes to the level of stupidity I am capable of stooping to.Yeah right technical difficulties. Maybe I should learn to tell time!

 

[mwbode]

Ouch, no stops? Your shorting using the double short etf's or just buying puts on the index etf's? I play the spy and vix options and got out yesterday when the market was up 200 +. I am neutral right now in my posisitons waiting for the next signal.

 

[moh malekpour]

I call this market crazy horse or manic depressive market. One hour, it is hot; next hour, it is ice cold. It is dangerouse to play with this market unless you enjoy gambling.

 

[Terrel L. Shields]

How many times does a dead cat bounce BTW and can it bounce all the way back up to previous highs?

since it was off 19% from Oct. highs.....it needs a lot bigger bounce than it got...and again, it is not sustaining these rallies. They are one to three day events than rachet down...Bottom isn't going to look like this. Bottom will be sideways before some savvy folk start moving it again. Watch the volumes...when the purge comes, we'll know it.

The steam so far today is out of the rise....look for a down day this week.

 

[MARK JOLLIFF]

Ouch, no stops? Your shorting using the double short etf's or just buying puts on the index etf's? I play the spy and vix options and got out yesterday when the market was up 200 +. I am neutral right now in my posisitons waiting for the next signal.

Using the double shorts and will use stops occasionally however been burned when market starts on the upside and then turns down. I leave for work 3 hours before the market opens and if the futures are WAY up I will put in stops. I put in a stop on QId the other day at 54.50 and it sold and then went up about $3 from there so I missed out. oh well I'm still up and having fun. The gambling analogy has more truth than fiction I admit but I still feel we are going below 11,000 on the Dow!

 

[Restrain]

From CNBC's website this morning:

DOW futures off almost 140 points, Carlyle group(one of the big boys) going into default since it couldn't workout its loans with lenders.

 

[mwbode]

I think Carlyle Group has Bush Senior ties.

 

[Greg Bell]

OOOOOOOOPS! Retail sales down .6 %.Not to worry , your check is in the mail and all is well.Don't worry about the wallpaper dollar or 1K Gold.Time to lower rates and save Carlyle Capital , ooops , to late for that...

 

[Riick]

"Wall St tumbles on credit woes, economy
"Stocks dropped at the open on Thursday as the latest signs of global credit stress rattled investors, while a surprise drop in U.S. retail sales fueled concerns about a consumer-led recession."

WHAT a surprise! Consumers running out of money?
Who could have possibly guessed that could be in the cards?

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Yesterday made some people understand a little more about dollar and gold .....this way seems to sink-in.
Back in 1960 the dollar was worth 1/35th an ounce of gold.
Now it's worth about 1/1,000th an ounce of gold.

 

[murray stroupe]

Dead cat bounce

I was waiting for the usual response. Thanks. How many times does a dead cat bounce BTW and can it bounce all the way back up to previous highs?

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Can & does bounce down for years a in a bear market/downtrend;
as in past 12 months.Pretty descriptive nickname ''dead cat''-mostly moving down. Few call a good uptrend a dead cat.

Question 2, sure, as you say,Mike;
but personally would rather speculate on sectors making lower lows,
lower highs,lower closes. And while theyre prety extended,oil & gas, chicken feed sector/related ''bounce back up to previous highs''. And like the idea, they also tend to keep making higher highs, higher lows, higher closes.