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I met up with scores of subscribers to TradingWithCody.com yesterday in our chat room (open at http://tradingwithcody.com/chat Wednesdays at 2pm EST for one hour). They took me up on the offer of asking me just about anything, as you’ll see below in the transcript from
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A morning bounce or two out there. The markets are up about 1-2% and if they can just sit around here at these levels for a day instead of zooming 3-5% back up and down all day, we might finally start building a base and/or even a bottom. Obviously,
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As you guys can clearly tell, we’re still getting this chat feature figured out. Today’s session will start at 3pm EST (instead of the usual 2pm EST) and we’ll run through til the market closes. You can meet me in the chat room and ask me anything
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Go easy, the doorman said The floor is slippery, So watch your head. This message read. – Neil Young It’s slippery out there. Yesterday’s rally, in the midst of which the market happened to close, is now a fleeting memory. When you step back away from the indices and
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It’s still wild out there. I’d mentioned last night that just because we closed on the highs of the day yesterday that it shouldn’t be considered a “bullish” day. Indeed, the sell off came quick, and the DJIA is already back down 300 — back to where it
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If the markets had closed at 10am, the papers tomorrow would talk about Tuesday’s sell off continuing in the markets. If the markets had closed at noon, the papers tomorrow would talk about Tuesday’s nice rebound in the markets. If the markets had closed at 3pm, the papers
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The guys on TV say we’re supposed to be talking about the S&P downgrade of the US debt. The newspapers say we’re supposed to be talking about Spain and Italy and whether or not the ECB, and the World Bank can redistribute enough wealth upward to
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The markets bounce. It’s a good 2-3% bounce off the lows yesterday (and 3-4% higher than the futures were trading this morning), but that’s still less than half yesterday’s collapse. This is probably about as healthy an action as we could have expected after this wild volatility.
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Another panicked sell off. The VIX, a measure of volatility of the S&P 500 and a reflection of emotion, is through the roof: Emotional trading from others brings opportunity to those who remain level-headed. Doesn’t mean we’ll nail this bottom, when and where it does come,
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There’s a lot of cross currents, emotions, and macroeconomic forces intermingling right now. And that’s got the markets and most everybody running money losing confidence. And panicking. And running for the hills. I’ve been saying since this sell off really started getting vicious last week that trying
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The markets appear to be trying to attempt to sort of stabilize a little bit…. kind of…. maybe. I’m serious. It’s just squishy and panicky out there. We need to let the psychology play itself out. The S&P downgrade, while in some sense, meaningless to everybody