Full Moon is 0915 hrs GMT today (Monday Sep 15) so look the fuck out!!! (that's 415am eastern time US) Time for a market movin party compliments of LEH, Hank the criminal Paulson, AIG, MER, etc.....oh, and of course, the man on the moon!
always does... but what happens if this time is different, what if the DOW just has a slow drop to 8000 or even 5000 over the next decade.
well, basically the market just corrected the rally which started on thursday afternoon... Low there was 1211.25, and this rally was mainly 'cause investors thought Lehman would be bailed out somehow... plenty of downside potential still there
It's probably crazy but I keep looking at this chart from decisionpoint.com which seems to indicate we could go to 500 on the S&P and still be in a long term uptrend.
Now that we've started talking about limit down in futures, I see buyers around last week's low.... I wouldn't be surprised to see a brief spell of short covering once we get the official announcement of LEH filing for Chap.7.