It's the big one boys!!! The one that will could determine the market action for the next couple months! OH WHAT SHALL HE SAY? The suspense is killing me...
put stop loss orders in right before he starts at +/- 1.5% on silver futures and watch the money roll in as we move at least 10% by tuesday
He will announce he is "closer" to QE3 Remember he never has to do it, he can just keep holding the market hostage by threatening to stuff it down the markets throats...
If it's bad news... They say to buy the lows next Monday or Wednesday provided they are below or around 1375. If it's good news... They say to short the highs next Tuesday or Thursday provided they are at 1433 or higher. Id prefer good news and hints of QE3 so we can get a solid short setup mid/late next week. I don't trade from the inside of the range to the outside. I trade from the outside of the range to the inside. The moon is looking pretty full tonight. If I had to put money on the Bernanke speech into late next week id be short because of that.
LoL... The markets are NOT going to just move 12 points on the SPX tomorrow... Any idiots knows that. Our range during the speech is likely to be 12 points. Tomorrow is going to end 20 points higher or lower or more... Too many big players positioned into this speech...