What you said
I heard RIMM is getting bought out by Greece. The new country/company will be called Grimm — Subscriber CAL from the side bar chat on TradingWithCody.com
I got dozens of answers to my question about who’s more scared, the bulls or the bears — and it overall turned out about 50/50. I’ve pasted some of the comments and emails and discussion from the side bar chat on TradingWithCody.com because all of you had some insights:
March 29, 2012 – 11:28 amBears are more scared. As Bear I think mkt will jump 2% in any day and will run till end of April.eryba1March 29, 2012 – 12:17 pm@musa7290: bears more scared? Reality is who has more to protect? Bulls have 7-20% returns YTD so fra so IMHO they are more scared for the eventual correction when it does come. Our Mentor has now mentioned this exact fact for the past 2 days.
musa7290March 29, 2012 – 12:20 pmI said from different angle, I said as a bear I am scared to short anything. I am not seeing the signal of panic. So this is how I feel. You are scared as bull since you have long positions, may be.eryba1March 29, 2012 – 12:21 pmyes when cody is looking for a correction into earning and it being a productive YTD Its always wise to take profits off the table as I did the past few days and am looking to buy back.rt
March 29, 2012 – 12:25 pmmusa, I think it is buying opportunitycalmdaw1
March 29, 2012 – 12:26 pmI think bears are probably still more scared but the bulls are starting to get spooked. I actually think part of what is worrying Cody is the overconfidence the bulls have showneryba1
March 29, 2012 – 12:27 pmsome stocks have already corrected 5-10% but as cody says we need to wait and see reactions to earnings for the true tell. Meanwhile until that time frame comes about we are getting nicely oversold if we close here today and S&P 1390 needs to hold but nice look buys short term are out there!relberg12
March 29, 2012 – 12:42 pmI have fear of earnings this quarter, I think the Best Buy results are indicative of potentially bad results at others: AMZN, even AAPL….but I probably won’t play any of them very aggressively…scary!relberg12
March 29, 2012 – 12:43 pmbut I did pick up an april 610 call on aapl earlier when it was below 608…just a little trade.Mystic
March 29, 2012 – 12:44 pmBears are more scared Cody. They won’t add to their shorts because they figure it’s just another minor pullback. Look at spx puts relative to the call prices. The Bulls aren’t afraid of anything.eryba1March 29, 2012 – 1:28 pmwhat are bears scared about we already had a straight up 3 month move. Its the bulls who need to protect those gains. if we go sideways or trade in this narrower range to consolidate as we go into earnings that would be optimum. Earnings and guidance have to be good but we will need to wait for the markets reaction to that in a few weeks. Meanwhile shorter term we are oversold at these levels and I am slowling buying some of codys fav’scalmdaw1
March 29, 2012 – 1:35 pm@eryba – i think your first sentence is what has bears scared. straight up for 3 months. logic might say that the bears are in a good position to capitalize on a pullback here but fear and logic are like magnetic poles pushing in opposite directionseryba1March 29, 2012 – 1:36 pm@calmdaw1: thats why we watch and see what transpires but meantime use our own guy, buy points, info we read see have acquired etc and make decisions.calmdaw1
March 29, 2012 – 1:39 pmI don’t consider myself a bull or bear. I am more of an opportunist and will play where i think i have the best odds.eryba1
March 29, 2012 – 1:40 pm@calmdaw1: exactly what this site is for thus codys short and long positionsMystic
March 29, 2012 – 1:42 pmThe bulls believe that everytime we go down its just a buying opportunity. The bears have given up in trying to short things and will try to buy the dip along with the bulls. Most of my friends are bullish and are out buying right now. Way too confident in my opinion.eryba1
March 29, 2012 – 1:43 pm@Mystic: they r just doing what has been working for 6-9 months now buy dips has been a VERY winning and lucrative method.calmdaw1
March 29, 2012 – 1:44 pm@mystic – isn’t some of that a different type of fear? i.e. the fear of missing out on more of the rally?eryba1
March 29, 2012 – 1:44 pmwe need to watch internals, oversold / bought levels, individual stock company news etc and with earnings coming up lots to absorbMystic
March 29, 2012 – 1:45 pm@eryba1 you’re 100% right. I just think that being cautious after this huge run is more prudent right now.scott.davidj
March 29, 2012 – 1:46 pmI think itll take a lot to get break out one way or another, until we get some earnings reports out in aprl. I think we bounce around til then. everyone is trying to catch their breath before they get adventerousMystic
March 29, 2012 – 1:47 pm@calmdaw1 But you still have to think at what point does end? I’m not saying it’s over though. I myself go on technicals first then fundamentalsMysticMarch 29, 2012 – 1:48 pmThe technicals are obviously still very strong which is why I haven’t bought puts in the spx. And honestly I’m a little afraid of getting whipped sawed if I do.calmdaw1March 29, 2012 – 1:50 pm@mystic – I agree and those who jump in at the end will also be the first ones to bail out when/if the market does correct.Mystic
March 29, 2012 – 1:51 pm@calmdaw1 yupcalmdaw1
March 29, 2012 – 1:52 pmironically, they will help create their own personal nightmarerelberg12
March 29, 2012 – 1:52 pmLike calmdaw, I don’t feel bullish or bearish per se, but will try to find the best buying and/or shorting opps….aapl at 620 I sell…aapl at 607, i buy (a little). feels like some of the tech names need to rest though, so I guess I’d say the bulls should be more scarederyba1
March 29, 2012 – 2:08 pmyes individual stocks charts etc are each positions tells. Today the market is oversold as of yesterdays close-http://www.mcoscillator.com/market_breadth_data/if we close at these levels the oscilaltor will get further oversold and mot times good times to buy the market when it gets oversold in a pullback.pmcnabb02
March 29, 2012 – 2:09 pmI have a moderately Bullish Outlook for the year, but am anticipating short term correction to digest the gains for the last 3-4 months.gpo344March 29, 2012 – 5:21 pmThe bulls are more scare than the bears. I sure am scared about giving back the gains.TWC Sub Emailer – Bulls are doing everything they can to keep this market alive.Sell in May and Stay away was probably the best trading strategy last year and should repeat again this year.Al
A bubble is when companies with meager earnings sell at 40 to 60 times earnings, not when good companies with a solid history of earnings growth move from 12 times to 14 times. Corrections are normal but the trend is up and has a long way to go before we can think bubble.
Scott“I don’t think it’s time to panic because bubbles can and usually do grow far beyond what you ever think is possible.”
Couldn’t agree more. Never underestimate the depths of human stupidity. On top of that you have Bernanke, via these interest rates, forcing the elderly, just as Greenspan did – into higher risk securities beyond their risk profile – just to get a livable rate of return on their money.
It’s tragic the Fed has forced them into high risk positions and criminal that the same Fed policies are simultaneously causing the rapid inflation in food, energy & all items essential to human sustenance.
Double whammy: Cut the elderly’s fixed income by 70% & Starve the elderly by inflation.
Cody back here in real-time. No trades for me this morning and that’s okay, and I’ll remind you guys that RIMM is up today even though the company’s quarter and outlook and strategies are as bad as they’ve ever been…just like I’d warned about heading into the call — you didn’t know what was priced in for the post-earnings reaction. You’ve seen me pound the table with buying ideas and shorting ideas and there will be those times again very soon. Today is not that day and as you’ll hear from me many times — there’s no reason to force the trades. Wait for the best pitches before you swing.
