Did I miss a news story?

Discussion in 'Trading' started by ChkitOut, Jan 21, 2010.

  1. Sudden dump..??
  2. Thats what I was wondering...that was odd.
  3. I didn't hear anything of note
  4. maxpi


    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...
  5. 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

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


    I'm just glad I wasn't on the wrong side of it, whatever it was
  8. 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.
  9. ddefina


    Sorry guys it was me, accidentally sold 5,000,000 YM contracts instead of 5--my bad.
  10. Either this is a great buying opportunity...

    ...or we've hit top.

    Funny, that's always what the two choices are.
    #10     Jan 21, 2010