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IBDvalueinvestin (98.50)

Looks like the Novices were easily fooled to sell today on 2 headlines.



April 07, 2010 – Comments (5)

Stocks slipped Wednesday after a senior Fed member said policy makers should start raising rates to 1 percent soon. Stocks had been lower for much of the day but pared some of their losses after the 10-year Treasury auction was met with strong demand.


I am laughing my butt off at the novice people that sold on this weak bear news.

First off rate hikes come to a vote and 1 person does not win.

Secondly its not a shock that the treasury demand was strong because leading up to the auction the rate on the 10yr treasury climbed all the way up to 4% just so they can have strong demand.

People were not enticed with the 3% yields they were offering previously.

5 Comments – Post Your Own

#1) On April 07, 2010 at 3:38 PM, soycapital (< 20) wrote:

I bought some today, divy payer or two on sale!

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#2) On April 07, 2010 at 4:44 PM, pastordisaster (< 20) wrote:

I agree, this market should continue to go up at a slope of 1 with no pullbacks or selloffs whatsoever. See you loser bears at DOW 36,000, and btw thanks for your money. Silly, uneducated bears, this economy is all fire!!!!



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#3) On April 07, 2010 at 11:16 PM, IBDvalueinvestin (98.50) wrote:

sarcasm should be left at home pastordisaster. No need for that. If you disagree just say so in a nice way.

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#4) On April 07, 2010 at 11:40 PM, Momentum21 (97.52) wrote:

IBD, I am in the bullish camp but I still wouldn't call today much of a selloff at all and I certainly wouldn't mock sellers/traders...

short term oil probably got ahead of itself due to currency and I wouldn't be ashamed of selling a little if I were trading it...

there were lots of buyers out watch list and portfolio was up...during a real sell off I get was a healthy day, except for Zales being up 22%! : )

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#5) On April 07, 2010 at 11:41 PM, Momentum21 (97.52) wrote:

wait...I am trading it and I am short Oil via SCO as a short-term hedge of course...

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