Care to share your complex formula on greenspan commentary and level of market decline? What would it say if his comments were "I predict that stocktrad3r will blow his account out on a true corrective phase".
The fact that that indexes lost a lot of ground on his comments all the way into the close indicates hesitancy in the markets before two important pieces of economic data. An compete correction will be bad for my porfolio obviously. However, that kind of mindset prevents you from making money in the market. You might as well stick your money in a savings account.
durable goods and new home sales are important? Durable goods maybe, but new home sales? not so much. Anybody who doesn't take these, or any other stat published by the gov't, with a gigantic grain of salt is delusional anyway.
what are you talking about? I live on west coast, so yeah the numbers come out out 5:30 MY time, but gov't #'s always come out at that time- cpi,ppi employment, etc.. So i'm not sure what you are trying to say. But thanks for trying to imply that I will be stcuk in some way. I assure you I am most comfortable with my positions at the moment, both long and short.
I think it has more to do with interest rates than Greenspan's comments. Watch the 10 year note, and Im not buying this dip, yet.
Your method of getting from point A to point B is fascinating. How in the world do you deduce that an index of a large number of comapnies should be off 40 points, but not 75? Your ability to make up shit like it's gospel(or makes any sense for that matter) so non-chalantly is astounding.
guess you were`nt around for "irrational exuberance"....Einstein. you`re like the house fly that you keep missing with the swatter......good thing is you have the life expectancy of one.
Not much of a rally with the nasdaq red The durable number was good enough to lift the futures out of the red but not much else Since there is still a lot of bearish sentiment but slowing econ growth means greater odds of rate cut. So many experts