if it happens at all..it could be tomorrow

Discussion in 'Trading' started by sobemark, Jun 13, 2006.

  1. market action today , especially at the close leads me to believe that IF ..again i say IF the CPI is .3 or higher (core), we could see the market in rinse mode ... margin selling is right around the corner...

    i am not calling for black wednesday , however if we are going to get it ..it is set up for tomorrow

    IMHO of course ..

    ps ... i am flat ...no positions ....
  2. [Down Monday/Down Friday] x 2 -> nasty tank in 1-5 days:eek:
  3. EPrado


    I agree...and am eagerly awaiting for capitulation....but until we get that huge blowoff on the downside, mkt will continue to go down....

    best situation...core cpi comes in higher...we open down big....get monster selling on the open....finish off the longs that are hanging on by a thread.....total panic.....something like dow down 300 or so at some point....then we might get that bottom that a lot on here are calling for...we really need to see a huge down morning followed by a decent up close (up 100 or so)....

    this close was rather pathetic .......
  4. I would rather see a big down day with a close at the low ..and an exhaustion gap down the next morning ... that, to me, would be a tradeable s/t bottom.
  5. EPrado


    We need that exhaustion move...whether its at the open following a big down day...or intraday.....we need panic.....havent seen it yet...

    with gold falling like a rock and the SP getting murdered, something has to give....I would some hedge funds are close to puking....if they havent already
  6. I think alot have been puking all along, or have been made to puke.

  7. more puking to come imo, lol
  8. The currency markets have been tempestuous this last 20 days, but I am hedged and trading carefully chosen currencies, and they are tradeable without any adverse effects from the US stock market...

    But I do not speak for all currency traders as I am in a highly specialized system.

    Michael B.
  9. bl82


    While I agree with the sentiment about this having been a relatively orderly decline that lacks anything looking like even an attempted bottom, I suspect the spring is wound a lot tighter to the upside than the downside, meaning the likelihood of a +200 Dow tomorrow is higher than that of a -200 Dow -- regardless of the data.
  10. What’s a black Wednesday to you anyway? I think the S&P going down 15 points is a bad day and it’s done that a lot lately. I don’t think your going to have a market down day of 40 points on the S&P.
    #10     Jun 13, 2006