Friday, November 17, 2006

Market is wrong - market is right

Someone from TradeGuild's Tagboard called today's selloff "brutal" - I respectfully disagree.

Market is a living organism and the parts are many ( and many of traders are really gifted, ingenious players - this is who we, retail traders, competing against )
Respect market, the moment you disrespect - you lose.

Housing start down - THIS IS GOOD!
Depends for who, me who was beginning to be bulling on homebuilders and such, this is a good news, inventory WILL go down, prices will stabilize.

Now - market dislikes this number - tell me something else.
We cannot really expect rally to go on for 365 days ( well, about 200 trading days )
This is healthy, orderly rebalancing/profit taking (it is - I normally sarcastic when I hear it ) going on right as I type, market will go up at the end of the day or Tuesday morning. Stay the course - long for now.

Now, question on ID - load it up,as much as I don't care for Cramer, his technicians are right - $20 is a target.

Next, use market weakness - NHWK is going up ( Is Cramer following my stocks or something? First IBD jumped all over SMSI after I post, screwing it up big time, so I had to do bunch of trades instead of 5 days trade for better profits, now - Cramer?

Good luck