March 3, 2009: How Broken Is The Stock Market?

[DayTradersWin]

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[HarborGuy]

We are in deep recession, states, cities and even the Nation Government is broke and in deep debt. We may not recover as a nation again. We might become the USSof A Thanks Mr. "O".....

[sxr5a]

Rally coming next week - smart shorters covered at the end of the day - commodities, baltic dry index have rallied despite equities selloff, us dollar has not strengthened further - leading indicators point to a rally next week

[sxr5a]

Not to toot my own horn, but why mark me down when we just had the biggest rally of 2009 today?

Dow +5.8%

S&P 500 +6.3%

Nasdaq +7.1%

[elwalvador]

Hey man, Great call, we had one of the greatest bear market bounces in history in March. Hopefully, you bought and made a lot of money.

What exactly tipped you off? What numbers were you looking at, or charts?

[sxr5a]

Well basically what I mentioned above, also the MACD for the dow and the RSI were screaming oversold. Oil and base metals were strengthening despite the selloff and gold was declining indicating safe-haven buying was leveling off. Baltic dry index is always a nice indicator.

I unfortunately had most of money invested already, but I have made money on almost everything now, also I had enough left to buy up Citigroup at $1.10 :) Looking to sell stocks next week as we may be topping out

[elwalvador]

Wow, nice trade on Citi. I see you bought it after a huge volume spike on the downward move. Was that a capitulation play? You gotta have big balls, or at least a lot of trading experience to buy into that downtrend.

Your up 231% on Citi! That's fucking awesome! You picked the bottom perfectly. Incredible.

[zozo71zozo71]

52% wow  ,, the most bad market ever,,

yes . its look very scary market this time.