I just turned my head for a second and the market plunged 50 points. What volatility! I just hope the terrorists don't target Disneyworld 🙂 If it were to happen though I think they would go after the winter olympics.
This is forming the ABC move up to 1080 that I said was possible. The news that they are going to bailout Greece is what drove this move up.
You can't predict this news events. I'm staying short, as I still believe we are going down. What will that crazy idiot do on Thursday is what concerns me. A terrorist attack?
Is technical analysis alone the answer? It seems that using “some” fundemental analysis aids in incorperating some common sense.
I suspect the plunge will not happen until some fundemental news surfaces, the proverbial match that lights the fire. That might be (using common sense) is retail sales AND some sort of European summit, both on thurday.
Weak retail sales can tank the S&P. And if the summit doesn't fix Greece than that will grease the skids for the Euro to tank which correlates with a downside S&P
It's true last week that the S&P tanked thurs. the day before the employment figure came out. but I think the market was factoring in the fundementals (the big revisions) beforehand.
Should have followed my original plan to buy puts just before the match was lit. Wed pm
Look for something in news about Greece to cause this market to tank. Remain patience… I'm still short. This is not bullish.
Red,
Thanks for the explanation on Stargate.
IMHO, today's move is clearly bullish short-term. As usual losing money from all angles.
Good luck to all…
I hope so too girl…
I just turned my head for a second and the market plunged 50 points. What volatility! I just hope the terrorists don't target Disneyworld 🙂 If it were to happen though I think they would go after the winter olympics.
This is forming the ABC move up to 1080 that I said was possible. The news that they are going to bailout Greece is what drove this move up.
You can't predict this news events. I'm staying short, as I still believe we are going down. What will that crazy idiot do on Thursday is what concerns me. A terrorist attack?
Are we having fun yet?! Oh well :0 Still hanging.
That's correct bensjoyce. The technicals will set up the move first, and then the news will cause the move to happen.
Is technical analysis alone the answer? It seems that using “some” fundemental analysis aids in incorperating some common sense.
I suspect the plunge will not happen until some fundemental news surfaces, the proverbial match that lights the fire. That might be (using common sense) is retail sales AND some sort of European summit, both on thurday.
Weak retail sales can tank the S&P. And if the summit doesn't fix Greece than that will grease the skids for the Euro to tank which correlates with a downside S&P
It's true last week that the S&P tanked thurs. the day before the employment figure came out. but I think the market was factoring in the fundementals (the big revisions) beforehand.
Should have followed my original plan to buy puts just before the match was lit. Wed pm
Yes ben… but what if it takes a little longer to fall to that level. It's just a big gamble, that's what I'm trying to tell you.
But if the market crashes that fast to 977 I'll be in the money.