To: politicket
A 400 point run-up on extremely negative financial news is as a poster said earlier - bull trap. Au contraire. Jesse Livermore always said that a market that rallies on bad news is reacting to smart money or insider buying. It is the best indicator of a looming bull market that there is. Don't ignore it.
But the news wasn't really bad. In fact the indicators released today all came in better than expected.
22 posted on
04/01/2008 4:31:43 PM PDT by
groanup
(After 20 years someone finally made money in gold. Now it's "I told you so".)
To: groanup
In fact the indicators released today all came in better than expected.
The indicators were all down, but not as down as some were expecting.
There were no indicators that gapped up to show a recovery under way.
I look at the rally today as people holding a lot of dangerous stock unloading it to those who don't gamble very well. We haven't seen the worst of this financal mess yet and people are acting like it's over.
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