I feel the conviction down. Big board blocks haven't even been triggered yet. Should give a push -300 and trigger a long squeeze margin call before the next sucker bounce.
If the fed were to stop playing to the market and start acting like responsible business men they would raise rates to tackle inflation. The market would respond by selling off then would rebound because the fed would lead the market to believe things are strong.
hmmm.. strengthening gap UP monday? up more tuesday? little more wednesday? flatish thurs? who can say?
Strong last half hour. My money is on gap up Monday and sucker rally to sell into. Was rooting for session lows by 3:59. Hope I can eek out an extra 1/8th. Futures will be milked higher Sunday night IMHO and open + Have a good weekend all. Got to get this trade in.
interesting that the VIX had a lower high today than yesterday with the Dow dropping 246. SP100 options market didn't agree with the big price move today in stocks.