I would say this is the “shot across the bow.” With over 100% retracement this quickly, damn! Any QE after this would probably just keep us in a range, if that.
As for FP’s we still have the Dow 8300 and SPX 885 one’s… maybe that’s the first target down? LOL… that’s one helluva first wave down! (Not likely, but anything is possible)
“We should get a bounce but who knows.” …yeah, I’m thinking the same thing! But “where’s the money coming from”? No more POMO, or QE2 money… and it looks like the PPT are now unemployed too. Rally? I’m not counting on it anytime soon. Maybe we have a small one, or just some choppy sideways days… but I don’t see any big rally yet. Crash seems more likely too me!
Just hit the lowest one in “recent history” 125.14, but there are unfilled ones all the way back to 11/15 at 116.71. The highest recent ones we haven’t hit are at 135.37, 134.59, 131 and 128.79 (today).
Stupid! Yeah I went long too, only because this is a little overdone. The covering rally may be harsh. But then again, I might get stopped out tomorrow!
Edit: China is learning a hard lesson…don’t trust the EU when they ask you to buy Euros! Talk about squandering a fortune.
I would say this is the “shot across the bow.” With over 100% retracement this quickly, damn! Any QE after this would probably just keep us in a range, if that.
As for FP’s we still have the Dow 8300 and SPX 885 one’s… maybe that’s the first target down? LOL… that’s one helluva first wave down! (Not likely, but anything is possible)
“We should get a bounce but who knows.” …yeah, I’m thinking the same thing! But “where’s the money coming from”? No more POMO, or QE2 money… and it looks like the PPT are now unemployed too. Rally? I’m not counting on it anytime soon. Maybe we have a small one, or just some choppy sideways days… but I don’t see any big rally yet. Crash seems more likely too me!
DOH!
Looking at prints for SPY…
Just hit the lowest one in “recent history” 125.14, but there are unfilled ones all the way back to 11/15 at 116.71. The highest recent ones we haven’t hit are at 135.37, 134.59, 131 and 128.79 (today).
LOL… yes, it is about time for that to happen. Hmmm… I wonder what it could be? Maybe a nuke going off in downtown Springfield?
Hey Red, isn’t it about time for an artificial disaster to take the blame off the Fed???
Stupid! Yeah I went long too, only because this is a little overdone. The covering rally may be harsh. But then again, I might get stopped out tomorrow!
Edit: China is learning a hard lesson…don’t trust the EU when they ask you to buy Euros! Talk about squandering a fortune.
BBY had an up day, falling knife is finished, i bot today
utilities are up in AH, must be interest rates are pulling back–
UPS,TGT,AMGN,GILD up +1 to +2%, yep, i think we get an up day, wed