not a top the markets just going to do some correction for the next week 5 days of kick you in the ass correction since I'm short heavy.
in the longer run, i'm seeing 3 potential choices for the US. it appears that the government has to either 1. pop the housing bubble to save the dollar 2. continue letting the dollar sink to maintain the housing bubble 3. find new means to secure resources and stimulate the economy with war i know this is overly simplistic. i've only recently started dealing with the bigger picture
The stock market is rising for the same reason the bond yields are rising? That's not the way they taught it to me.
Yes it looks like Bush wants to start a big one this time-------- http://www.telegraph.co.uk/news/mai...ml&sSheet=/portal/2006/04/09/ixportaltop.html just what we do not need right now--------the nuclear option would be categorically INSANE!!!!!!!!!! Oil is not helping the big picture for our market right now either-------- http://business.timesonline.co.uk/article/0,,13130-2124287,00.html Fridays cash session was of no surprise to me after the news release, as the unemployment rate again dropping even lower below the Fed's benchmark rate of 5%. The 4.7% unemployment rate news release just screamed the Fed is still going! Oil holding $67 plus was also of no help to the bulls---------Monday the bulls need to hold S&P futures above 1300 or we will get some additional red.
I have no clue! I trade a automated sytem and it is right 86% of the time. I shorted the top that day and then covered. Then it went long. If the market is up Monday, Great! If not it's just part of the game.... Most likely is 4 es points up some time in the pre market or morning. But who knows?
If the ES can work through the 1309 to 1310 level we have a chance to clean up some of Friday's mess. If we bounce down from there it is time for another very good short as the 1300 level will most likely be the next victim.
The original piece by SEYMOUR M. HERSH http://www.newyorker.com/fact/content/articles/060417fa_fact There seems no limits to their madness.
The markets haven't been overly concerned about Iran so far, but I think this issue is about to come to the forefront: http://news.bbc.co.uk/2/hi/middle_east/4891730.stm