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Retail sales were better than expected due to higher gasoline prices.
The PPT has been active all day. Started this morning when Europe was about to go through the gates of hell.
Where the $#%# were they yesterday when I was in the market?
Oh well, I was wrong and now I have to wait until next month.![]()
"plunge protection team"?
So this 80 pt S&P rally was another emotional reaction to hot air?
the rally sells off.
Matt is predicting in his blog a return to the SPY sixes next week.
I gave some more thought about my last move, a bad one, and discovered that my basic analysis was correct, but I just was impatient; jumped in at the first spike in volatility, and the initial daily sell-off, only to discover that this wasn't even the beginning.
So next time, which may be next week - or the week after; I'll be more patient. Of course, the market will quickly challenge it's lows' of 660 - but that doesn't have to be "the bottom".
I'm thinking next sell-off won't be the "water torture" 2 week type; it will be monstrous profit taking off of this rally - which was based on a whole lot of nothing in terms of fundamentals.
Here's to looking at 650 and below, kid. Also looking to cash in on that 5% of F fund I've been holding for awhile. Hoping for something in the 12.6-12.7 share price to bail and wait till April.
I agree with your post. Were probably not out of the woods yet and patience is golden. Also the markets gets oversold and a mouse fart will kick it into an upward trend. We haven't been getting the big price swings of last Oct./Nov. and I would like to understand that dynamic a little better. With the noon deadline (1800 here in Europe) it is good to know why the dow isn't going to swing 500 points up the same day as a buy. Anyway best to you my one celled friend, good trading. HH
All their going to do is eliminate the use of the words Toxic Assets to describe the toxic assets! A rose by any other name...The Federal Government will announce Monday a three-pronged plan to rid the financial system of toxic assets. If the plan is welcomed the market should rally strongly.
amoeba,
were you the one who posted info on Charles Nenner a few months back? I never heard of him before reading on the MB. Either way, do you think there is any vindication to his latest predictions/cycles explanation based on what is occurring?
His interviews are hard for me to interpret but I believe he predicted a bottom in mid March followed by a rally into April/May.