Amazing how media always finds out the reason for why there was an up or down day in markets, when reality is that a lot of the time it's pure sentiment based, final floor trading scene comes to mind in Trading Places.
Commodities at 13 year lows.... Dow continues to fall....if there is no turnaround the next few days and it breaks the lows of 2 weeks ago its heading below 17,000.....like I said 2014 October lows are coming....every rally attempt has failed...the NASDAQ is holding up extremely well and the vix still hasn't skyrocketed which is baffling me but sooner or later the vix will break multi year highs.....get ready for massive volatility ....once margin calls come flying in on the commodity plunge its going to be quite a show....
I initially want to short/put the indices. However, when i see this kind a statement in ET, this tell me the market will bounch again. I will have to BTFD again.
For the most part i agree with this, but i really think its easy to explain the reason the markets are down this time. I tried to short the ES at 2126, after we bounced those highs, and it only hit 2125 in the premarket the next day. So if analysts are looking for a LEGITIMATE reason why the market is getting killed, i say its all because i got too cute with my entry, and missed the boat.
Gave himself a good start to a 3 day weekend. He will probably buy the dip on Sunday evening. Monday may be a coin flip. Who thinks there won't be a FED hike with the FED repeatedly saying they will hike? Both Chicago and NY FED wan't a hike. Yellen says she will hike.