Let's get it in perspective. Bad for economy -> Good for stocks!!!! I see a tiny little dip on the open and then a short squeeze all the way up into the close. Like always
I wanna hear the spin on this one.. makloda is still thinking it up... it's a toughie... growth was slow but the usual argument that it means the fed will cut doesn't really work now with a 4% deflator.. I really wanna hear this one edit: damn you were fast! nice one.. "Bad for economy -> Good for stocks!!!!" I like it!
MSFT will make a big difference today. +5% premarket and it's in all indexes. I will look at ER2 today this will be a more accurate tell of market direction, blending out MSFT. GBL and ZB now trading down. Guess bonds don't like that deflator
http://fidweek.econoday.com/reports/US/EN/New_York/gdp/year/2007/yearly/04/index.html Doesn't go further back than 2000 but it's the highest since then
Well, the market will go up if everyone expects it to go down... given MSFT's numbers, I'd guess most expect it to go up... ergo, it wil probably go down. On the other hand, the figures were bad, so many expect it to go down. MAYBE we'll get an up and down day, but I'd guess down. We could use a breather anyway, and the weak hand shaking out is true, but at this point, I don't think too many hands will actually get shaken. This has been one lousy week for me already so far, it would be hard to say which would be better, up or down, since I'm now all over the place positionally. I think I'll go shopping.
The trade is to be in is short EEM and hedge with NQ futures as I have been saying for the last few weeks. The weak $ helps you on both legs. Yesterday someone bought 2000 120 puts and sold 3500 calls so clearly I am not alone in this trade. The other trade to be in right now is long yen futures. Good luck all.
I'm positioned perfectly but I wont even make it to the cboe open to collect my check because they're buying the dip already. Ha ha - beautiful.