That's a very nice dragon. The price action of the "head" had no closing bars beneath the back. Great reversal.
As credit freeze thaws, markets will rally, especailly during this and next session. But, not parabolically. That was a unique once-in-a-lifetime event yesterday. --------------------------------- Glimpses of sunlight in the credit markets? | 11:23 a.m. Our colleague David Jolly brings news from the world of credit and bonds: Measures of credit market stress, which may be a more important barometer of where the crisis stands, showed significant easing today. Yields on safe-haven U.S. government debt securities tumbled, as investors ventured once more into the wider market. And the so-called Ted spread, the gap between yields on safe three-month U.S. government securities and the rate that banks charge each other for loans of the same duration, fell 31 points to 4.26 percentage points. While that remains extremely elevated in historical terms, it suggests banks are becoming more confident in lending to one another. Chris Taggert, senior strategist at CreditSights in New York, said: ââWe should see some alleviation of these problems in the next few days as a result of the actions taken by the U.S. and governments around the globe in adding liquidity.'â He said it was a good sign that credit conditions had eased without governments actually deploying many of the new financial weapons they have announced. Taggert said he was optimistic that the cost of interbank funding â the primary problem central banks have targeted in flooding the money markets with cash â would ease. ââBut itâs not going to be a rapid return to normal conditions,'â he said. Before saying the credit market is healthy, he said, investors want to see the interest rates banks charge each other for loans moving closer to the Federal Reserveâs overnight rate target, the fed funds rate, which is currently at 1.5 percent.
guys I forgot to mention about the Full Moon do you realise that the biggest one day Rally in U$ Stock Market History occurred on a Full Moon? coincidence?
You live in China? The full moon is today, 10/14. Talking about "coincidence", banks closed yesterday holiday and market soared, today banks open and market drops. Who are behide the great 08 crash?
1)yields through the Roof 2)strong Dollar 3)soaring Stock Market (ie Bull Market) 4)crashing oil/commodities looking good on all fronts now where are those idiots that were calling for a Depression a few days ago?
calm down boy. it was a just a one day rally. i am not saying its a bull or bear market. im just saying its too soon to call it a bull market. as far as i am concerned, i am still playing it as a bear market. but i would never go as far as calling for a depression or what not.
the nice thing about this market is that it will oscillate between depression valuations and recession valuations.... as the news comes out in the months ahead the depression valuations will take more control... so ala the vix trading range I mentioned of 75-50...it will be a traders paradise... so a range of 2000 points on the dow...200 points on the spooze.. 740-940 7000-9000