Börsipäev 9. november
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Rev Shark:
A Pullback Is Just What the Bull Ordered
11/9/2005 9:03 AM EST
"The three P's of success: Passion, Persistence and Patience."-- Doug Bronson
The market has had a great run after hitting a low in mid-October. The gains have come fast and furious over the last week and the question now is whether they can continue. The bulls are firmly in control of the market but if they are going to keep things running it will take passion, persistence and patience.
It can be quite difficult in the stock market to maintain passion and persistence while staying being patient. Investors are an emotional and insecure group and their feelings about the market can change very quickly, especially when the market is pulling back and consolidating. The idea of buying a dip sounds great until there actually is a dip and then the nervous bulls worry that the market is going to suffer a more dramatic correction than they anticipated when they first planned to buy weakness.
The market certainly could use a good rest right now but we need the bulls to be persistent and do some buying on weakness. If they don't maintain a decent level of confidence a healthy correction can turn into an ugly reversal. It is a positive to inject some doubt into the market so that there is untapped buying power on the sidelines, but there is a fine line between a strong market with a healthy dose of skepticism and a strong market with steadily eroding levels of confidence.
The biggest advantage the bulls have right now is that the action has been so strong recently that it is going to take some very poor action over a number of days to change the positive technical picture. The market can well afford some weakness. In fact, given the somewhat overbought conditions it would be in the best interests of the bulls if we did pull back.
You can't look at a chart of the Nasdaq without seeing the gap formed last Thursday morning from 2144 to 2153. A pullback to fill that level would seem to be the most logical scenario at this point. The best thing if that were to occur is that it would not completely kill the recent uptrend or the momentum.
Although the market held well yesterday it looked tired. Volume slowed a bit and breadth was weak all day. We have had little news flow to act as a positive catalyst and we have technical overhead at the September highs on the index charts.
Yes, the market has continued to act well but the prudent move here is to start focusing a bit more on defense. Passion and persistence will keep this rally going but now is the time for a little patience.
We have a slightly positive start shaping up. Overseas markets are mixed, gold is up and oil trading down. I'm liking the way gold stocks are setting up and will be looking at that group a bit more today.
Gary B. Smith:
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vaadates seda graafikut, tunnen, et ka mina väike tegija võiks väheke oma raha liigutada, aga ei, sest mulle ei öelda, millal saan usa opts ostma hakata, või pean hansasse tgasi minema? müüa pole mõtet, sest osta siit ei saa, lihtsalt ei kiru vaid väheke teavet tavalise inv. konto omanikule!????
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muidex niisama küsin, kas täna opts. edsijõudnutele toimus?
ja veel, kas on lähipäevil usa optsidega lootust alustada kaulemist?
