I don't care what the number is. I just want movement like today or better. That's all. Give me volatility, that's all I ask for.
ill admit the first hour and 30 minutes was volatility but the rest of the day was just boring. Opened down -50 on the dow and -10 on the nasdaq, that was a good opening. CPI will be in a range of 0.1 tomorrow, i dont think there will be anything big unless by chance it just comes well under consensus than the bulls can enjoy 13,000 tomorrow.
It's all about the Bank of Japan.... BoJ rate decision: I think the market is paying more heed to the risk of the yen weakening if rates are held steady, rather than the risk of the yen strengthening in the event of a rate rise - trader - Yuji Matsuura at Aozora Banks It's all about pressure on the CARRY TRADE....If borrows worry or not.... and in my opinion they will have to worry in either paulisble decision the BoJ makes, we get another round of selling....It's like we forget what caused us to sell off in MAY....It was a serious unwinding of the carry trade and it spooked everyone....Now we a very similiar setup happening....I mean Margin was just reported to be at an all time high from the NYSE today after the bell....Where do you think all those banks are borrowing from....HHMMMM...Borrow at 5% and lend at 6.5% or borrow at 1.5% and lend at 6.5%...Makes sense that the carry trade is very much in play.... ALERT BOJ raised rates!!!!!!!!!!!!!!!!!!!!!!!!!!1 $COSTAverageMAN