I have been a bear on this blog.
I was suggesting you hold shorts in the last 3 sessions.
Even with bad tech earnings and tech losses, the DOW was higher by 49 points.
While the NASDAQ finished lower.
Are financial stocks in a rally mode?
Is the market creating a double top where were rally up and then experience a correction?
6 comments:
As there is manipulation (SEC-Fannie and Freddie, Gold, analyst "better than the worst), Las Vegas seems a better place.
Mr. Anon,
Do you think that the market will fall down, because the latest rally has been built on lowered expectations and Bush, SEC saying that the doom and gloom is over with.
Market could go up because there are new short selling regulations.
Sanjay,
The regulations are against Naked-Short Selling not regular selling.
You can still short sell with actually buying the shares up front.
Also you can't say that a stock is going down because of short selling.
Why not just loss-of-confidence sell offs?
But, I think people not understanding what the rule is actually about are buying into false hopes that the market will re-bound.
Naked shorting has been and will be illegal.
Two reasons why I say that the market will rally due to the regulations:
First, there will be some covering of the newly illegal shorts.
Second, SEC and SecTreas have been criticized for not having enough regulation, it will give investors confidence that the govt is doing something.
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