It's 4:15AM EST as I write this. While the bear sleeps the bulls are working a surprise open: ES +1250 NQ +1900
yes wow and whoopee. paulson and bernanke have saved the day. on the back of this very important bail out news and indy mac bank being recsued by the fdic the dow futures at 11:21 london time are up yes wait for it 84 ticks.......................................................... zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz well something tells me we aint going up in the short term. price action says it all. people know that things are lot worse than they are. fannie and freddie are just the tip of the iceberg.
Cover your shorts and go long else you will be grabbing your ankles and feeling it all through the summer... .and dont be dumbasses and daytrade. BUY, HOLD. You heard it here.
For the clueless, order Chinese food for takeout to take home. Then before the fire flames out, look to sell and wait for reset while new guard comes in. Seems reasonable to me. Chow mein to go you know. Egg foo yung when Summer goes away.
Daytraders never learn. Stay long ding dong. Cycle up a few more days, and then temp 2 day rollover. Then we off to the races trending UP UP UP. You heard it here.
Remarkable how all the major indexes continue to keep making higher lows and higher highs since my original post. And now I read so many "doom and gloom" posts going on this forum. I must be on the right side of the tape. Ever see egg foo yung on a bears face?