Only a central bank can stop a correction. They will say something and thats all it takes for Ignition. Earnings/GDP/spending.......who cares. FUBAR. Look at long treasury bond. Is there only about 5 or 6 in circulation? Or, is demand high?
January 22nd ECB meeting, they will announce some kind of QE and markets will rally 7% just like the did after Japan announced their stimulus plan, any more downside in this market and Yellen will announce qe4.
I dont think at all that Yellin is thinking QE4 . Buy more bonds? Fed stayed the course through taper. It is oil, ECB, Japan, China's turn for 2015 stimulus to offset peripheral weakness (to US that is). Rumor is Germany will nod to asset purchases? If things correct then FED pushing off 2015 rate hikes could provide SPY support. Thats my shit house economic analysis. I will let you guys go back to cheer leading, Pompons and all.
S $ p down 5 days in a row, longest streak since late 2013, over a year and we haven't seen these many down days in a row, wonder how all those so used to seeing record after record new highs feel right now. Don't worry markets will rally, because they have to, if they don't they will just push more stimulus into the markets, that always works.
It turns out there are "precautionary settings" at IB, presumably to protect the great unwashed from themselves. jeez. My broker was "helping" me and it only cost me $1000. Thanks guys!
Stopped out. Still feeling like a permabear and seeking another selling opportunity, hopefully higher up.