1-todays asia/dow sell off follows our friday trading...NOT new selling off.. 2-VIX is totally due for HUGE reversal downward..means HUGE buying on SP/DOW side 3-real or even anticipation of FED 'surprise' ='s 'anticipatory buying' 4-SP/DOW will look to 'fill the gap' from fridays trading as per point #1 above.. 5-Bank of america with good earnings or guidance... 6-bank of canada rate cut gives 'hope' to US rate cut 7-last friday was options expiration day...new massive positions are being opened and presents/provides cash flow.. 8-lowering Oil prices ...DO NOT trade off of this information...do your own DDiligence...
I think tomorrow, we'll see alot of margin call selling, or panic selling. The Bank of Canada is expected to lower rates only 25 bp. The TSX closed down 600 points to-day. Historically, this week has been negative 9/10 years. Doubt we'll close up this week. Just my 2c. Anything is possible, tho'.
No, tomorrow will be a horrific day. The rest of the world had their mini correction today. We will have ours tomorrow (delayed by MLK). I see us nosediving to 11,250 from here.
If the DOW is down ONLY 300 tommorrow call it a major victory for bulls. I usually love wild gyrations but this is getting pretty scary.