QE2 does NOT create any new money as it did in QE1. Hence, the success rate of market rallying on QE2 POMO days has been extremely bad. The front-running that is. QE2 is primarily balance sheet adjustment and nothing else. No new money is being handed over to the banks. They are just carrying forward long/short treasuries in lieu of the other to make a dent on the yield curve. Alas, it worked like a charm, just in the opposite direction. 🙂 So POMO days will and should have no significance with regards to equity markets IMHO.
Sorry, 6 weeks from Wall Street 2’s release to Nov 5 high. Today also is 47 calendar days from 10-10-10, 47 being a prominent crash number (market did bottom at 47tds on July 1st(which was 333tds from March ’09 low) and top this week at 74tds from 8-9-10 high? This week is also 90 weeks from March ’09low, 90 being a prominent Gann number. The April high occurred at 60 weeks, the week before freefall, or 30 weeks ago. Today is 63tds from August 25low making Monday 64tds or 8×8 while making Monday also 66calendar days from Wall St 2s released date.
ISEE all equities did another finish above 200 at 209 on a all day down day keeping alive the buy the dip mantra. As per Cobar $oex putcall ratio had another large number on Wednesday so the big boys are fading the retailers. $vix had a large jump today not commensurate with the move down and closed well above its 50day average. Today should be 111trading days from the Summer Solstice high as well as being 77tds from 8-910 and 777calendar days from 10-10-2008. Wall Street 2 released on 9-24-10 or 2 months ago but 63days ago (or 9×7) and Social Network,10-1, or 56days ago(or 8×7). Unstoppable released 14days ago or 2×7. Wall Street 2 released 7×7 or 49 days from Nov 5 high. LeBron James out with a new logo shaped in the form of a crown and 2 jays. Something the occultic experts should take a look at.
I’m looking for 1150 spx for the first downside target, and then 1130, if it gets that far? I think it will happen by the close Tuesday or Wednesday morning. Then a POMO rally until the end of the week. After that… who knows?
I like to see that it shot up that much. But it is just as bearish when it reaches a bullish extreme and then drops hard. It seems like buying the dip was the mantra this week although I didn’t follow today’s action and I need some catching up to do.
I’ll probably be joining you. I’d like to see where Monday ends up first. The short term charts are mixed, so it could just chop around all day, and close about flat? Hard to say right now…
I did so many edits on the comment—–Yes! I’m going to 70% shorts going into Tuesday—last day of the month, Usually down, and XLE, gets so nervous on Tuesday’s ( sell off) ….ahead of the oil report WED…We are in this XLE nervousness cycle for at least 3 or 4 more weeks.
SPY Weekend update
http://niftychartsandpatterns.blogspot.com/2010/11/spy-weekend-update.html
I just updated my “Big Picture” thread over on TF.
http://tickerforum.org/akcs-www?singlepost=2283745
QE2 does NOT create any new money as it did in QE1. Hence, the success rate of market rallying on QE2 POMO days has been extremely bad. The front-running that is. QE2 is primarily balance sheet adjustment and nothing else. No new money is being handed over to the banks. They are just carrying forward long/short treasuries in lieu of the other to make a dent on the yield curve. Alas, it worked like a charm, just in the opposite direction. 🙂 So POMO days will and should have no significance with regards to equity markets IMHO.
Sorry, 6 weeks from Wall Street 2’s release to Nov 5 high. Today also is 47 calendar days from 10-10-10, 47 being a prominent crash number (market did bottom at 47tds on July 1st(which was 333tds from March ’09 low) and top this week at 74tds from 8-9-10 high? This week is also 90 weeks from March ’09low, 90 being a prominent Gann number. The April high occurred at 60 weeks, the week before freefall, or 30 weeks ago. Today is 63tds from August 25low making Monday 64tds or 8×8 while making Monday also 66calendar days from Wall St 2s released date.
ISEE all equities did another finish above 200 at 209 on a all day down day keeping alive the buy the dip mantra. As per Cobar $oex putcall ratio had another large number on Wednesday so the big boys are fading the retailers. $vix had a large jump today not commensurate with the move down and closed well above its 50day average. Today should be 111trading days from the Summer Solstice high as well as being 77tds from 8-910 and 777calendar days from 10-10-2008. Wall Street 2 released on 9-24-10 or 2 months ago but 63days ago (or 9×7) and Social Network,10-1, or 56days ago(or 8×7). Unstoppable released 14days ago or 2×7. Wall Street 2 released 7×7 or 49 days from Nov 5 high. LeBron James out with a new logo shaped in the form of a crown and 2 jays. Something the occultic experts should take a look at.
I’m looking for 1150 spx for the first downside target, and then 1130, if it gets that far? I think it will happen by the close Tuesday or Wednesday morning. Then a POMO rally until the end of the week. After that… who knows?
I like to see that it shot up that much. But it is just as bearish when it reaches a bullish extreme and then drops hard. It seems like buying the dip was the mantra this week although I didn’t follow today’s action and I need some catching up to do.
I’ll probably be joining you. I’d like to see where Monday ends up first. The short term charts are mixed, so it could just chop around all day, and close about flat? Hard to say right now…
I did so many edits on the comment—–Yes! I’m going to 70% shorts going into Tuesday—last day of the month, Usually down, and XLE, gets so nervous on Tuesday’s ( sell off) ….ahead of the oil report WED…We are in this XLE nervousness cycle for at least 3 or 4 more weeks.
You plan on shorting it after it gaps up?