EOD Rally Has All The Makings of PPT Involvement

Discussion in 'Chit Chat' started by MrDODGE, Dec 2, 2008.

  1. Looks like they have returned from their Thanksgiving break.

    I find it very interesting that we bounced right as the Dow was about to go red, on no news. YM volume doesn't support the large upward move from 8,176 to 8,396 in 15 minutes.

    Does anyone have an explanation?
  2. [​IMG]

    the recovery just like the one in 1975 will be v shaped. NO one cares about Gm or housing. All of this doom and gloom is overblown.
  3. Tell that to the people who have lost their jobs and houses.
  4. its the EOD market roid rage....ya gotta love it...all day i was up lost it in 1 5 minute bar and then made it all back and a little more on the 5 minute bar after that....sheesh..someone get me a zanax...

    8,276 to 8,422+ in minutes!
  6. um ... unemployment is 6.5%..only 5/10% above the historical range of 4-6%. Only 2% of homes have been foreclosed.
  7. Bounce off major support or PPT? I don't know...
  8. Sorry for not knowing, could somebody simply explain, thank you.
  9. Who in their right mind would go long in front of the economic news to be released tomorrow?

    - ADP Employment
    - Productivity (no big deal)
    - ISM Services
    - Fed's Beige Book
  10. it was funds loading up and panic short covering. 7/10 past days we've seen EOD rallies. This is a good sign.
    #10     Dec 2, 2008