Congrats to all shorts, 550 on the S&P a reality, C/BAC down big in premarket

It looks like the downtrend is starting today where we will be taken to my ultimate price target of 550. The market will take back all the gains that were made going up.

Hope you didnt get long C or BAC expecting these stocks would go up from here.

Longs, its time to give back that money that was made going up. C-ya at 550 bozos.

 

No way, the market will shake you out before moving lower. Shorts have had their day.

 

Early results of the U.S. government's bank stress tests suggest that Bank of America and Citigroup may have to boost their capital. http://stock-market-news.net/content/view/20/

 

I think we meander in this trading range for a couple of months, unless there is a big news event.

 

Progression of swine flu could be it.

 

Hayman, it seems your scenario is most likely. The market wants to test 875 again, we are close. Then I think trade in a range as you say. But we certainly could revisit the dreaded 666 once again.
Wouldn't it be interesting to see the shorts scramble if we tested 875 and then broke through instead on falling back?

 

Another awesome fade.