I totally agree with that because those with the wallets have been pushing the market that way, and I think that is a distinct possibility, or even a probability.
However, the markets need to return to sanity some time, and if it’s not tomorrow, it’s very soon. Big put volume on S&P on the close today (actually after the close) and both oil AND gold down on the day comparably. Oil seems to lead the overall markets both upward and downward, recently.
If enough money sees these signs, a return to sanity could occur sooner than later.
Big put volume on S&P at the close…all of us of bludgeoned faith…whether or not tomorrow is when it starts…move your selector to “fire” and watch your lane…
We want a really good number (low) not a bad one. If it’s really good, then traders will fear that Ben might raise interest rates… hence the market will tank.
‘Bout to mention that. There’s a time lag between Gallup and the govt survey. However, the govt would have to outright lie to NOT show more than a 0.1% increase.
The Gallup spread is 0.8% from August (9.3%) to September (10.1%). I would imagine the govt will adjust it for “seasonal factors” and manage to give yet another rosy outlook. It would be almost comical to see the unemployment rate go down.
Excellent video yesterday Red, couldn’t have put it better myself. I’m a swing trader and have been 100% short since July and am getting illegally robbed by the Fed-PPT-Government, and its absolutely sickening. I’m down between 15-50% on my various positions. Never thought I’d be getting screwed like this in a fixed game. Hoping they stop this and let the market drop. In my opinion fair value for the S&P 500 would be about 650 right now, not 1200!
Phil’s stock world:
XLK – Technology Select Sector SPDR ETF – A massive debit put spread utilizing a total of 224,000 contracts on the Technology fund went through electronically this afternoon just after 2:00 pm in New York trading
I totally agree with that because those with the wallets have been pushing the market that way, and I think that is a distinct possibility, or even a probability.
However, the markets need to return to sanity some time, and if it’s not tomorrow, it’s very soon. Big put volume on S&P on the close today (actually after the close) and both oil AND gold down on the day comparably. Oil seems to lead the overall markets both upward and downward, recently.
If enough money sees these signs, a return to sanity could occur sooner than later.
Big put volume on S&P at the close…all of us of bludgeoned faith…whether or not tomorrow is when it starts…move your selector to “fire” and watch your lane…
We want a really good number (low) not a bad one. If it’s really good, then traders will fear that Ben might raise interest rates… hence the market will tank.
‘Bout to mention that. There’s a time lag between Gallup and the govt survey. However, the govt would have to outright lie to NOT show more than a 0.1% increase.
http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/october-surprise-gallup-reports-unemployment-at-101-percent-104503209.html
The Gallup spread is 0.8% from August (9.3%) to September (10.1%). I would imagine the govt will adjust it for “seasonal factors” and manage to give yet another rosy outlook. It would be almost comical to see the unemployment rate go down.
Opps, I was mislead by it being Gallup that reported 10.1%. Bet the Govt report will fudge it downwards.
Well, looks like unemployment is going to be reported tomorrow at 10.1%. Maybe Red Dragon will get an early Christmas afterall
Thanks Colin…
I’m just as frustrated as everyone else, so I might as well air it out on the video and in the post. Someone has too…
Excellent video yesterday Red, couldn’t have put it better myself. I’m a swing trader and have been 100% short since July and am getting illegally robbed by the Fed-PPT-Government, and its absolutely sickening. I’m down between 15-50% on my various positions. Never thought I’d be getting screwed like this in a fixed game. Hoping they stop this and let the market drop. In my opinion fair value for the S&P 500 would be about 650 right now, not 1200!
S&P 500 Analysis after closing bell
Phil’s stock world:
XLK – Technology Select Sector SPDR ETF – A massive debit put spread utilizing a total of 224,000 contracts on the Technology fund went through electronically this afternoon just after 2:00 pm in New York trading