Chas, Disturbing in what way (to you)? I saw Friday as a return to the continued selling, after a couple of days of bottom picking and/or short covering. On Thursday, the QQQ rose, then sold off. That weakness should have predicted Friday's downslide. Your thoughts? Kevin
agreed. I even made a morning note (to self) to the effect that a reversal was likely. It just seems like more of a down thrust than I'd expected. The chart looks like death. A guy in Barron's using the "C" word. TrimTabs makes a joke about JPM or C 'bust[ing] the financial system.' Hits on corporations' large put positions. Weapons grade uranium found... Maybe I should be faded...
I went short at 854 ES and was shaken out for only a 1 point gain when it came back. Then re-shorted at the same price but was skittish and only scalped the way down ,waiting for shorts to take some profit after lunch . All in all only made 5 points but half profits went to commish. The market always seems to teach me a lesson when I need the money most.
Funds couldn't hold it up next to last day of quarter, not good. Nice shakeout for a move higher though. Who can doanything but trade this market. 2 days is now long term.
the G7 meeting this weekend is uneventful in 1987 the monday crash was right after such a meeting? I will keep my eye on the futures overnight and the spot FX quotes just in case ... :eek: