Man oh man, the Europeans must be getting pissed. Sodomized over and over again. Sterling, Euro, Greece. Sheesh. Pay back is tough. Now they're buying our overpriced oil as well.
To match the DAX's rally, the S&P needs to finish at 1150. You guys know the significance of that number. I'd like to see US finish either all red or at 1150.
I was just kidding. A lot of sector rotation going on here. 1150 is a tough nut to crack. Yesterday and today's selling was for real. The pops are getting sold hard now which represents a change. So for many money managers it's time to take money off the table I suppose.
interesting study: http://quantifiableedges.blogspot.com/ "This study gets off to a bit of a slow start, but then there appear to be solidly bearish implications for up to several weeks out. Even as much as 4-5 weeks out the % winners is exceptionally low, as are the win/loss ratio, the profit factor and the average trade."
Wow thanks. Your analysis supports the notion to sell the pops. Game theory would suggest that cautious traders take money off the table a few points short of 1150. That's where the options activity will tether the price going into options expiraton. The chance that we blow by 1150 and not retrace is nearly zero so the smart money is selling early and sending the proletariat to the front lines--- e.gov
I wish we'd go down, but I wouldn't put that to near zero (I'm 60% long, 40% cash). Judging from the price action of EWZ, I'd say we go higher than 1150 tomorrow. I hope I'm wrong ...
9 up days in a row. Imagine 9 down days in a row?? They would probably have to pass another stimulus bill.