Uptick is coming back.. shorts are covering today..

C

Chapdog

Abreast of the situations
Meet the bottom of the market.. Now for the beginning of the recovery.

http://www.reuters.com/article/etfNews/idUSWEN570520090310

WASHINGTON, March 10 (Reuters) - The U.S. Securities and Exchange Commission may act as early as next month to consider a proposal to reinstate the uptick rule, a source familiar with the matter said on Tuesday.

Earlier on Tuesday, Democratic Rep Barney Frank, the chairman of the influential House Financial Services Committee, told reporters he was hopeful that the uptick rule would soon be reimposed.

New SEC Chairman Mary Schapiro has previously said the agency would consider whether to reinstitute the uptick rule, which forces short sellers to sell at a price higher than the previous trade. (Reporting by Rachelle Younglai, editing by Maureen Bavdek)
 
they need to give time to the shorts to change there game. Otherwise would be a whole lot of hedge and brokerage houses going belly up overnight. lol could u imagine a surprise change to the rule.. Would be the short squeeze to end all short squeezes.
 
It would only be right.

If there is ever another time they take out the uptick rule, the first thing I will do is short everything. I'll make a fricking mint.
 
Chapdog said:
they need to give time to the shorts to change there game. Otherwise would be a whole lot of hedge and brokerage houses going belly up overnight. lol could u imagine a surprise change to the rule.. Would be the short squeeze to end all short squeezes.
Click to expand...

Which is bogus.... you dont give those that have been hammering away at the market the ability to cover themselves before returning the uptick. You burn them. If they go down, so be it. They are the ones that have been aiding this fear. Burn them down.
 
Superfreak said:
Which is bogus.... you dont give those that have been hammering away at the market the ability to cover themselves before returning the uptick. You burn them. If they go down, so be it. They are the ones that have been aiding this fear. Burn them down.
Click to expand...
This.
 
That said, there are still a lot of problems out there. This may be nothing more than a dead cat bounce. I would be cautious about going back into the market here. I do agree this is predominantly short covering and hype based on Citis news today.

Someone explain this...

Citi comes out with 'we were profitable for the first two months of this year' this morning.... so why is it they were taking money this year from the government?
 
Superfreak said:
Which is bogus.... you dont give those that have been hammering away at the market the ability to cover themselves before returning the uptick. You burn them. If they go down, so be it. They are the ones that have been aiding this fear. Burn them down.
Click to expand...

ohh how i wish.. but at this point I will take it any way i can get it.. Probably was the deal they made behind closed doors in order to agree to putting it back in place. we will know more if today holds and we continue the market recovery this week.
 
Superfreak said:
That said, there are still a lot of problems out there. This may be nothing more than a dead cat bounce. I would be cautious about going back into the market here. I do agree this is predominantly short covering and hype based on Citis news today.

Someone explain this...

Citi comes out with 'we were profitable for the first two months of this year' this morning.... so why is it they were taking money this year from the government?
Click to expand...

check out the yahoo headline:
Stocks Soar on Citi News; S&P Jumps 5 Percent After Uptick Rule Talk- Reuters

U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of the uptick rule. Citigroup's Chief Executive Vikram Pandit also said in a memo the beleaguered bank was confident about its capital strength. Shares of Citigroup, in which the government recently took a large common equity stake to help shore it up, jumped 35.2 percent to $1.42. Citi's stock has fallen about 80 percent year to date.

# Bernanke: "Good chance" recession could end this year- AP
 
Chapdog said:
check out the yahoo headline:
Stocks Soar on Citi News; S&P Jumps 5 Percent After Uptick Rule Talk- Reuters

U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of the uptick rule. Citigroup's Chief Executive Vikram Pandit also said in a memo the beleaguered bank was confident about its capital strength. Shares of Citigroup, in which the government recently took a large common equity stake to help shore it up, jumped 35.2 percent to $1.42. Citi's stock has fallen about 80 percent year to date.

# Bernanke: "Good chance" recession could end this year- AP
Click to expand...

We may get a pull back into the close here.
 
Hey. lets just pass a law that everyone has to buy stocks. Think of what that will do to the market.

You people are moronic.
 
Chapdog said:
no uptick rules allows un regulated funds to commit bear raids. Its the 90% cause of why we are so oversold.
Click to expand...

People should be allowed to buy and sell whenever they want. If you want to pass laws to sculpt buying and selling according to how you want it, just make all selling illegal.

Stocks are oversold because they suck.
 
Chapdog said:
no uptick rules allows un regulated funds to commit bear raids. Its the 90% cause of why we are so oversold.
Click to expand...

This is the big debate.... are we really oversold? While we would normally see a rally after such a big decline... is it because valuations are too low or that selling has just exhausted itself temporarily? ie... is this a dead cat bounce or a bear market rally or is it a rally off the bottom?

Right now, it looks more likely to be one of the first two... the second being the deadliest to investors. We will see what the technicals show us. If the Dow can push back and close above the 7470 level that would be a bullish signal.

For now, I will continue to sit in cash and gold.
 
Superfreak said:
This is the big debate.... are we really oversold? While we would normally see a rally after such a big decline... is it because valuations are too low or that selling has just exhausted itself temporarily? ie... is this a dead cat bounce or a bear market rally or is it a rally off the bottom?

Right now, it looks more likely to be one of the first two... the second being the deadliest to investors. We will see what the technicals show us. If the Dow can push back and close above the 7470 level that would be a bullish signal.

For now, I will continue to sit in cash and gold.
Click to expand...

id say a 13year low is oversold.
 
The market is what it is. It was overbought. Now it's most in line with reality than it has been in a while. Of course, you fucksticks consider non-deluded skyhigh idiotic pricing to be "correct". How fucking stupid. Who do you think you're fooling?
 
Chapdog said:
id say a 13year low is oversold.
Click to expand...

Not compared to a 25 year low.

Not saying that you are wrong, I do think we may see a short term bounce. But both techinicals and fundamentals are pointing to a down trend right now. Those need to break positive for a sustained rally.
 
You must log in or register to reply here.
Back
Top