Thanks for always posting this Earl. I will see where the $NYMO is when we get to ES 1163. Could be that we make the move up to 11,816 from there (as he mentions) and then fall to 107.82 or so.
June S&P E-mini Futures: Today's range estimate is 1180 – 1193. I expect the drop that started from 1210 to end near 1163 sometime this week. Once the correction is complete a move to 1270 should start.
1182.75 – 1206 actual last Friday (23.25 points) 1181.50 low last night (1 point below the low last Friday) 1180-1193 estimate for today (13 points)
1184.50 currently, so estimate is -4.5 to +8.5 from here (bullish)
What do you mean by “self harm”? Goldman will get a small fine of a few million dollars, and that's about it. They just pocketed the difference between what they sold their stock for, and what they can now buy it back for.
That one day wiped out $12.5 Billion Dollars of gains, that took them about 2 months to make. They sold their stock to the un-suspecting public, at the highs, during the last 2 months.
They get to keep the $12.5 Billion as profit, because now they can go buy that same stock back for a much cheaper price, from the same people they sold it to.
I'd say a small $10-$100 million dollar fine (don't know yet what the fine will be?), in exchange for $12.5 Billion Dollar gain, is a great deal… at least for Goldman.
Looks like the pressure is building at that level.
the gap down was a double play for the bears
1. Gapped below weekly purple containment
2. Gapped below initiation debasement gap @ SPY 119.18 from 9.29.2008
Maybe I need to go out there on the dance floor and whack the market in the ankle with a baseball bat… Let's see how well he dances then! LOL
Dancing continues with Max contain on the 60
$SPX 1192 is the number for the next couple of hours
Simple setup on the $DJI daily containment, should brown fail red is next (-2.3% away)
http://www.flickr.com/photos/47091634@N04/45349…
Well, we got our gap down… only to be filled as the computer bots go to town gobbling up the bears again. Same old shit!
Thanks for always posting this Earl. I will see where the $NYMO is when we get to ES 1163. Could be that we make the move up to 11,816 from there (as he mentions) and then fall to 107.82 or so.
Carl’s morning call:
June S&P E-mini Futures: Today's range estimate is 1180 – 1193. I expect the drop that started from 1210 to end near 1163 sometime this week. Once the correction is complete a move to 1270 should start.
1182.75 – 1206 actual last Friday (23.25 points)
1181.50 low last night (1 point below the low last Friday)
1180-1193 estimate for today (13 points)
1184.50 currently, so estimate is -4.5 to +8.5 from here (bullish)
yes but what fund manager would now want to own up to investors that they are doing any business with GS?
Thanks for stopping by Steveo…
Looks like the correction is finally here upon us. Hope you make a bundle in it.
I watched that video from 1981… very interesting.
What do you mean by “self harm”? Goldman will get a small fine of a few million dollars, and that's about it. They just pocketed the difference between what they sold their stock for, and what they can now buy it back for.
That one day wiped out $12.5 Billion Dollars of gains, that took them about 2 months to make. They sold their stock to the un-suspecting public, at the highs, during the last 2 months.
They get to keep the $12.5 Billion as profit, because now they can go buy that same stock back for a much cheaper price, from the same people they sold it to.
I'd say a small $10-$100 million dollar fine (don't know yet what the fine will be?), in exchange for $12.5 Billion Dollar gain, is a great deal… at least for Goldman.