Kudos to MMs

Here we go again. The world is coming to an end if you watch TV pundits.

SPX at Fair Value.

 

good call @820.

 

yes, nice call!

i did not expect it to happen so soon.

 

Thx for the kind words.

SPX 840-845 minor resistance for sure. It may even be tough resistance based on what we saw yesterday at this level.

SPX options vola was adjusted down at about 9:15 CST. Therefore, expect we may be in a 15 SPX range +/- now for days until we hear some resolution to the auto crisis. That will eat into VIX.

 

Imo, once again stocks getting a little ahead of themselves. Not terribly, but a touch.

 

a couple more excellent calls like yesterday and will be renaming the thread into "Kudos to Nitro".

 

Losing 820 is bad news. SIFs are in grave grave danger of testing the bear low of about 735. Support 782, but I would just brace myself if we lose these levels.

 

I have nothing more to add.

Ok, I do have more to add. The unemployment # will be horrendous imo, or it will be revised to be so. I would not buy 820 this time around. I might take a shot at 782. I will always buy 742.

SPX closed extremely efficiently yesterday. ~842 was very close to Fair Value yesterday, all other things being equal.

NOTE: Fair Value is a terribly overloaded term in finance. I mean my notion of FV, not anything that you can point to and say he means that.

 

SIFs while getting hit, not getting blasted. Don't be fooled. This is going down.

 

Mr. T, when asked for a prediction for the SPX 820 rematch, he replied, "Payyyne..."