true im also expecting the market to hover around this region and just do a last min rush to hold at 10900.I have noticed these few days that bear traders are now doing what bull traders did the last time round and worked off the oversold region quite well.However with that in mind the problem with all the fundamental problems are now starting to surface.During the last depression a housing bubble was inflated to switch traders from the I.T bubble.This time round they are trying to inflate the debt bubble.
The thing with have to look at is that during the switch from I.T to housing both markets were not directly linked so even when I.T crashed it did not affect the housing bubble which was being blown up.This time round they made a huge mistake by trying to blow a bubble up which is tied down to another bubble set to implode on itself.
Its clear as day that every mistake they have done is now coming back to haunt them at a faster rate then they can find scapegoats.
Fridays Pomo IMO was a failure
Monday Pomo IMO was a slight reaction
Today without any help from anyone its clear to see what the markets direction should be.Overall people will be trusting to a certain extent but the FEDS have betrayed the people over and over again and its about time that people step up and say enough is enough.
On a last note is it really hard to see which is better hmmmmmm a CRASH or a pullback which is normal and help (POMO) coming in when its rallying up to (MAKE) it seem real and believable.
I say we close about here, and rally back up hard tomorrow on some BS claims numbers, POMO money, and shorts getting squeezed. This market should have been down 200-300 points today, but the Fed’s clearly came in and bought it up in the morning.
Short term charts are all oversold, and we should normally just have a “pause” day (flat) as they work off those conditions. But since the Fed’s tried so hard today to save the market, I expect the same tomorrow.
But tomorrow they will have the charts favoring a rally, plus the normally scheduled POMO money day, and lot’s of new shorts to squeeze. So all they have too do is lie about the claims numbers and a squeeze will happen.
I don’t see how they could get back up there, but if they fudge the initial claims and continuing claims numbers tomorrow morning, and the Fed’s Beige Book… anything is possible.
Maybe throw in great earnings on Wells Fargo too, (and of course use the POMO money too)… and it’s rally time again. Just be prepared to get screwed by the bulls again… should they get more drugs?
true im also expecting the market to hover around this region and just do a last min rush to hold at 10900.I have noticed these few days that bear traders are now doing what bull traders did the last time round and worked off the oversold region quite well.However with that in mind the problem with all the fundamental problems are now starting to surface.During the last depression a housing bubble was inflated to switch traders from the I.T bubble.This time round they are trying to inflate the debt bubble.
The thing with have to look at is that during the switch from I.T to housing both markets were not directly linked so even when I.T crashed it did not affect the housing bubble which was being blown up.This time round they made a huge mistake by trying to blow a bubble up which is tied down to another bubble set to implode on itself.
Its clear as day that every mistake they have done is now coming back to haunt them at a faster rate then they can find scapegoats.
Fridays Pomo IMO was a failure
Monday Pomo IMO was a slight reaction
Today without any help from anyone its clear to see what the markets direction should be.Overall people will be trusting to a certain extent but the FEDS have betrayed the people over and over again and its about time that people step up and say enough is enough.
On a last note is it really hard to see which is better hmmmmmm a CRASH or a pullback which is normal and help (POMO) coming in when its rallying up to (MAKE) it seem real and believable.
We need to close below 1152 spx at the end of the week. Then the odds really favor the bears the following week.
RED–Did you mean 1152–?? or was the 1052 a FP
I say we close about here, and rally back up hard tomorrow on some BS claims numbers, POMO money, and shorts getting squeezed. This market should have been down 200-300 points today, but the Fed’s clearly came in and bought it up in the morning.
Short term charts are all oversold, and we should normally just have a “pause” day (flat) as they work off those conditions. But since the Fed’s tried so hard today to save the market, I expect the same tomorrow.
But tomorrow they will have the charts favoring a rally, plus the normally scheduled POMO money day, and lot’s of new shorts to squeeze. So all they have too do is lie about the claims numbers and a squeeze will happen.
How likely is that to happen?
well 1 hour till closing Red do you wanna make a prediction in what we might see in the last hour
S&P 500 Futures range breakdown : CLICK HERE
Bloom bergs take:
http://www.bloomberg.com/news/2010-10-19/pimco-new-york-fed-said-to-seek-bank-of-america-repurchase-of-mortgages.html
Keep this FP in mind gang… should be rally tomorrow?
http://reddragonleo.com/wp-content/uploads/2010/10/spy-fp-on-10-19-2010-of-118-55.jpg
I don’t see how they could get back up there, but if they fudge the initial claims and continuing claims numbers tomorrow morning, and the Fed’s Beige Book… anything is possible.
Maybe throw in great earnings on Wells Fargo too, (and of course use the POMO money too)… and it’s rally time again. Just be prepared to get screwed by the bulls again… should they get more drugs?
To ACP i think you got it right on the money here is the link on marketwatch to confirm what you have said
http://www.marketwatch.com/story/b-of-a-pressured-to-buy-back-bad-mortgages-report-2010-10-19
“Fake Documents”… I thought bankers were honest people? (ROFLMAO now!)