I'm with you...so far out of its channel that it is somewhat humorous. It'll dive back absolutely no later than Friday afternoon for sure.
I think we'll be seeing something special, it could possibly be the capitulation to the upside. I have no doubt that the market is rly overbought
The financials are exhausted at this point, with talks of Chrysler going bankrupt this alone could sink the financials 10-20% over the next week or 2. As for FAS, im waiting ever so patiently for something under $6.00.
We have seen capitulation to the upside with the indexes up almost 30% in only 7 weeks. Nothing has changed, the only thing keeping the markets from completely collapsing is the printing press working overtime to keep the entire global economy afloat. We are in a severe recession entering what I believe to be a depression soon, you CANNOT print your way out of a credit crisis.
Volume really climbing. Could be the turn, but I get my data off of internet sources as I am a swing trader, so I'm not sure how it compares. Looks like the S&P is hitting a ceiling at 886. Is that a relevant resistance level? edit: I mispoke earlier and said the ceiling was at 888, it is more like 886 now that I've had my coffee. SM
what is the difference in the percentage of change indicative of (FAS has increased 12% while FAZ has dropped 13% over the same period)? Is it because of decay?