This market is so crooked that it’s not even fun to trade anymore. How do you play in a game that has no rules? They make them up along the way. Tomorrow is another POMO day, and the short term charts will all be reset from overbought to oversold today… meaning that the chart will be pointing UP tomorrow… with a whole lot of new Monopoly Money too!
The Fed’s 400 newly hired traders will be working overtime with their counterparties trying to prop this market up. I guess they never heard that old saying, “Be careful what you wish for…”
They are buying that P.O.S. company Goldman Sachs hard right now… doing everything they can to save the market again! They are just setting the market up for a bigger fall down the road.
We wouldn’t have any crashes if they would just stay the hell out of the market and let it correct naturally. The market would just have small corrections instead…
We got 1st wave down this morning. We are having now an ABC move (wave 2 up) retracing 50 to 61.8%.The dollar has been in an uptrend for the past few days, maybe a game-changer.Do we get a 3rd wave soon or another FED save in the making?
On Tuesday October 19, 2010, 9:25 am EDT
WASHINGTON (Reuters) – Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday that further easing by the Fed has to be large enough to help boost demand, and purchases of $100 billion of securities a month would be a possibility.
Notice the time – looks like they can’t stand to see even one down day. Start pumping before the market even opens!
Well, I guess the Fed’s saved the day again. Since the 5, 15, 30 and 60 minute charts are oversold now, they should be able to rally back up all day from the looks of it.
Nice…and that is a good point, though.
It’s almost like the NYSE Euronext system gave a “sneak preview” of where traders are willing to take this market in the near future.
But now the cat’s out of the bag, I wonder? Will we see a retracement down to 106.46 or will they change the rules to throw everyone off?
Bullish Consolidation::
http://www.marketwatch.com/story/sp-500-hesitates-at-the-200-week-average-2010-10-19?siteid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+marketwatch%2Fcommentary+%28MarketWatch.com+-+Commentary
Anna jokingly stated that “we had our correct yesterday at 4:15 pm, with the flash crash low of 106.46 spy”… I think she’s right! LOL.
This market is so crooked that it’s not even fun to trade anymore. How do you play in a game that has no rules? They make them up along the way. Tomorrow is another POMO day, and the short term charts will all be reset from overbought to oversold today… meaning that the chart will be pointing UP tomorrow… with a whole lot of new Monopoly Money too!
And now this…
http://www.cnbc.com/id/39740025
The Fed’s 400 newly hired traders will be working overtime with their counterparties trying to prop this market up. I guess they never heard that old saying, “Be careful what you wish for…”
They are buying that P.O.S. company Goldman Sachs hard right now… doing everything they can to save the market again! They are just setting the market up for a bigger fall down the road.
We wouldn’t have any crashes if they would just stay the hell out of the market and let it correct naturally. The market would just have small corrections instead…
We got 1st wave down this morning. We are having now an ABC move (wave 2 up) retracing 50 to 61.8%.The dollar has been in an uptrend for the past few days, maybe a game-changer.Do we get a 3rd wave soon or another FED save in the making?
On Tuesday October 19, 2010, 9:25 am EDT
WASHINGTON (Reuters) – Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday that further easing by the Fed has to be large enough to help boost demand, and purchases of $100 billion of securities a month would be a possibility.
Notice the time – looks like they can’t stand to see even one down day. Start pumping before the market even opens!
I’m seeing a 118.55 print at the 11:50 am (est) 5 minute candle. Anyone else see it?
Well, I guess the Fed’s saved the day again. Since the 5, 15, 30 and 60 minute charts are oversold now, they should be able to rally back up all day from the looks of it.
What a bunch of B.S.!