You're thinking is right on ben. There will be some selling but they will try to close this at the current pain… which is now about 110. I'm expecting selling early on, and then the PPT will come in to save the day, and close at 110.
Pardon my conspiracy theory but why not (the manipulators) place the bad news right before opex fri. Bad news for the stocks is the hike in the Disc. Rate and lousy Dell news (minus 5% AH) The plunge protection team can get the most bang for their buck. The PPT will take advantage of the low overnight volume and spike the ES etc futures up overnight (let me guess an hour after London opens as we reach the 1090 $SPX (ES 1087)where Tony Caldaro says is Pivot support. When we wake in the am. most of the damage will be corrected. “The futures are well off their lows” CNBC will say.
Not sure about conspiracy. But 107.38 is right at a major support (calculated using a modified MA) and if the spy bounces off that level, then that there is dinner bell for all the bulls. But most people would probably be too scared to go long by then.
That 1047 misprint was amazing. The question is whether lightning will strike twice..:)
I can't believe the fake print Red. Incredible. Thanks for posting it. I will be amazing if that becomes the support level.
You're thinking is right on ben. There will be some selling but they will try to close this at the current pain… which is now about 110. I'm expecting selling early on, and then the PPT will come in to save the day, and close at 110.
here's my two cents
Pardon my conspiracy theory but why not (the manipulators) place the bad news right before opex fri. Bad news for the stocks is the hike in the Disc. Rate and lousy Dell news (minus 5% AH) The plunge protection team can get the most bang for their buck. The PPT will take advantage of the low overnight volume and spike the ES etc futures up overnight (let me guess an hour after London opens as we reach the 1090 $SPX (ES 1087)where Tony Caldaro says is Pivot support. When we wake in the am. most of the damage will be corrected. “The futures are well off their lows” CNBC will say.
On the other hand I'm not a good trader (yet)
bensjoyce,
It is not possible to learn anything from sundancer, or to make sense of his posts. That's that way he wants it.
Way cool.
REFRESH YOUR PAGE FOR FAKE PRINT CHARTS.
i don't have anything @ 107.38, AH tape show low of 109.91
3 min chart from today showing de-leverage areas SPY 110.35
http://www.flickr.com/photos/47091634@N04/43683…
there is a reason why i wrote a post about the $TNX 10 year today
Not sure about conspiracy. But 107.38 is right at a major support (calculated using a modified MA) and if the spy bounces off that level, then that there is dinner bell for all the bulls. But most people would probably be too scared to go long by then.
That 1047 misprint was amazing. The question is whether lightning will strike twice..:)
Ben, I'm pretty sure we are going to 107.38 spy, and then a bounce (maybe not tomorrow, but in a few days for sure)