Stock market as of 7/7/10, sucker rally or bear market?
I lost 2/3 of my gains from the 2009-10 bull market during the May and June market correction because I held on too long believing that it was a normal bull market correction. After the market declined for a whole week in a row, I dumped my shares and bought short indexes SDS and DXD to at least recover some of my losses. But I bought them too late and yesterday and especially today's rally has taken down another good portion of my money in paper losses. I'm very convinced that we're in a bear market and that today's rally is a sucker rally as the market charts are showing very bearish patterns and volumes for today's jump are low. A question for those who are familiar with the stock market, do you think we will see further declines off the lows of 2010 or have we bottomed and the correction is over? Thanks in advance.
Asked By: donl1282 - 7/7/2010
Best Answer - Chosen by Asker
"I'm very convinced that we're in a bear market and that today's rally is a sucker rally as the market charts are showing very bearish patterns and volumes for today's jump are low... More
Answered By: Net Advisor™ - 7/7/2010
Additional Answers (4)
So.... you obviously don't use stops & targets. You've spent no time developing money management skills. You're looking for help from people that understand the market....... no one truly "understands" the market... the difference between the winners and the losers is all in risk control. Period... More
Answered By: Common Sense - 7/7/2010
The US stock market has been in a "Bull market" since it was created... More
Answered By: MarcThyme - 7/7/2010
What we are currently seeing is a counter trend move -- the overall market has declined, but yesterday and today's move was against the major trend, or a counter trend move. It looks like there is strong resistance around the 1071-1082 level... More
Answered By: Karen - 7/7/2010
This is a desperation rally. The SPX is in a bearish channel. This wont last long and it'll be time to PUT BACK ON THE SHORTS! :)
Answered By: matt h - 7/8/2010
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