Did I miss a news story?

Sudden dump..??

 

Thats what I was wondering...that was odd.

 

I didn't hear anything of note

 

Philly Fed came in with a surprise... so who is done for the day? I got up late, was taking a whiz, came back to the computer and missed a fifteen point run...

 

Philly Fed was at 10, 10:20 is when the major dump took place.

I think the OP meant news that just broke at 10:20 not Philly Fed or Lead Indcts

 

Not me. Looks like the market is clawing its way up that phantom drop.

 

I'm just glad I wasn't on the wrong side of it, whatever it was

 

You could see the market turn in anything from oil and the USD to equities. I was also reading some large blocks of trades being dumped on a number of commodity stocks before the broader markets turned.

This is not a news driven event, it's the new dominant trend taking shape after the bull retrace reversed. Since I'm seeing this across all asset classes I'm going to assume this trend is a continuation of the deflationary trend we had between September '08 and March '09.

 

Sorry guys it was me, accidentally sold 5,000,000 YM contracts instead of 5--my bad.

 

Either this is a great buying opportunity...

...or we've hit top.

Funny, that's always what the two choices are.