(sigh), The market is manipulated so much! I am nor a Bear or a Bull but I used to be a Bull until I realized I can make money on the way down too.
Volume wasn't anything to brag about today. People are in Ephoria now thinking stocks will keep going up as they did down. Just remember one thing, it's in a downtrend. Until we can break that trend, get out of the clouds. The next leg down will say it all and also remember something else, WE STILL HAVE INFLATION!
Did we all forget why the markets are down??? It's down because Bernake keeps raising the interest rates. Why does he raise the interest rates? Because the economy is still booming! So the numbers showed inflation and chances of more rate hikes but yet they drove the markets up today. Pure BS in my opinion.
So...... if we start to lag tomorrow, I will continue to expect a drop and test those lows again. If we go up on heavy volume, then I think the bottom has been put in.
I honestly think this market is healthy and it wants to go up but the uncertainty of them not pausing caused it to go down. Now that we know they'll definetly raise the rates, the market went up but what if...WHAT IF Bernake raises it .50% or says there will be another one in August. Ba Bye markets again.
Thats my 2cents for today.
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