10/21 8:42PM Dow Futures Down 107 Points

Hang Seng down over 1000pts (3.5%).

European markets open in 4 hours.

Things could get ugly.

 

cocky?? ...no,cocky is what the bulls have been for far too long & need to be reminded of reality every once in a while..........like the gov`t,they are living on borrowed time & borrowed money....literally! :eek:

 

I don't think anyone in their right mind would short through the 31st of this month... the shorts got stomped so many times before by the fed...

 

I'd have to look, but I think the S&P is below its peak back in 2000 right now, correct?
So no, even long term, I don't think it's the longs who are cocky. I look at a lot of other sentiment indicators, and long-term, optimism is still declining from its 2000 peaks. From a sentiment POV, we're not even in a bull market yet.

 

S&P waaaay below its peak if you add inflation.

 

ET's sentiment is a pretty reliable contrarian indicator...

 

111 points. Believe me, as much as I would like to see a market crash tomorrows action will probably be no more than 250 points, if we're lucky.

 

Plus the shorts have to be pretty reckless not to cover before AAPL's earnings after the close.

 

If GOOG couldn't generate much excitement, why will AAPL?

 

I see an early morning dip followed by buying....

I'm bearish and have seen this over and over again where you see these massive sell offs only become buying opportunities where in the next 2-4 weeks the markets are at fresh highs again. Its tough to decide whether this is just another minor correction or the start of an upcoming bear market.