Dow and NASDAQ close up 11.5%!!!!!!!!! It's Time To.........Buy More Coins!!!!
Goldbully
Posts: 18,109 ✭✭✭✭✭
0
Goldbully
Posts: 18,109 ✭✭✭✭✭
Comments
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>Better wait for the end of trading day-look at the swing it took Friday. >>
What trading day are you talking about?
<< <i>Better wait for the end of trading day-look at the swing it took Friday. >>
I thought I did!!!!
I posted at 4:01pm EST.
<< <i>Buried in another thread on another topic is TDN's prediction that the stock market would be raging this week. Of course he was correct, and I made some cash movements in anticipation of this big run up.
You're a genius. Tell us genius, where it's going next. Do we sell, or buy more? Thanks in advance.
Free Trial
Experience the World through Numismatics...it's more than you can imagine.
<< <i>How do you know it this wasn't a dead cat bounce?? >>
Very possible......
From Wikipedia:
A dead cat bounce is a term used by traders in the finance industry to describe a pattern wherein a spectacular decline in the price of a stock is immediately followed by a moderate and temporary rise before resuming its downward movement, with the connotation that the rise was not an indication of improving circumstances in the fundamentals of the stock. It is derived from the notion that "even a dead cat will bounce if it falls from a great height".
The phrase has been used on the trading floors for many years. However the earliest recorded use of the phrase dates from 1985 when the Singaporean and Malaysian stock markets bounced back after a hard fall during the recession of that year. Journalist Christopher Sherwell of the Financial Times reported a stock broker as saying the market rise was a "dead cat bounce".
The reasons for such a bounce can be technical, as investors may have standing orders to buy shorted stocks if they fall below a certain level or to cover certain option positions. Once those limits are reached, the buy orders are activated and the sudden rise in demand causes the price of the stock to rise as well. The bounce may also be the result of speculation. Since bounces often occur, traders buy into what they hope is the bottom of the market, expecting a bounce and thereby reaping a quick profit. Thus, the very act of anticipating a bounce can create and magnify it.
A market rise after a sharp fall can only really be seen to be a "dead cat bounce" with the benefit of hindsight. If the stock starts to fall again in the following days and weeks, then it is a true dead cat bounce. If the market starts to climb again after the first short bounce, then the continued rise in price action would be considered a trend reversal and not a dead cat bounce ie. a short lived bounce before a further decline. This distinction only becomes obvious in hindsight and the evaluation may vary depending upon the initial and final points of reference.
The stock market loses 40% and metals skyrocket to... er, um, oh that's right, they dropped substantially. Meanwhile you can't buy PM's from anybody anywhere near spot.
BTW - Just last night, after watching the doom & gloom sky is falling cnn, fox, msnbc, ect., I told my buddy to look for a 800 point rally today.
I guess I was wrong.
Edited to add: I actually decided rather than try to buy PM's physically, to just buy into a platinum and palladium pools at kitco.
PCGS, ANACS, & NGC Certified Coins on My Website.
60 years into this hobby and I'm still working on my Lincoln set!