Today was the day when market could have crashed. Writings were on the wall, futures down big time, a huge 200 points down open, VIX at 35 and spiking hard and yet it did not happen. SPX revisited our Jan 22nd lows and did not take it out even with the horror of Bear and Sterns background music playing on. I guess the Titanic had every chance to hit the iceberg and go under, but it did not. So do not come back and bring your tales of sorrow and lament everything is gone. You are lucky you live in America whose Government did everything today to keep our financial markets orderly and they will do more with or without you. Stop fighting the Feds for God's sake! They own you and your balls along with all the money in this country! Tomorrow is another day. Feds will cut rates and you know what happens on that day? As per Stock Trade3 big white candles lit up the asses of those bears and shorts? That's right. If you are short your account will be wiped out. Stay on the sidelines or go long with us. I firmly believe with VIX at 35, heavy volumes and Jan 22nd lows still intact on SPX , we put in a solid bottom that cannot be breached easily. I hope you have a nice 2008 and no doom and gloom and talk of this imaginary recession. This is America not a land of cowards.
And what a lot of the younger "kids" that frequent ET fail to realize ( like the PPT and Conspiracy advocates like "s2007s" and his crowd ) is that back in the 1982 time period the FED eased dramatically for 11 STRAIGHT MONTHS before their actions took hold. Observe what is happening, and assume it will continue . . . That is how you profit. Instead of sitting around on ET having temper tantrums about how the FED didn't allow the market to "self-correct" or that the PPT was working overtime. Do you want to make money, or fight the FED? It's pretty simple really.
Do not fight the Feds, they own your destiny. No use, they owned your grandfathers destiny too, that's why you are here making faces at them. Look what they did today? Open the books to banks so no one can run the banks down! You know how big their credit facility is ? You have no idea nor you can fully guess. You can't go against them not in million years.
It is hilarious when the permabear crowd complain about the fed 'interfering' and printing too much money and creating inflation.
You 3 (day9933, stcktrder, landis82) are too funny, you think the economy is doing great and GDP is strong at 4%+ while jobs are plentiful and consumers are out there spending and buying everything they can, you also think that the housing drop is just a dream and that there is no such thing as foreclosures or job losses, you probably also believe that the federal reserve stepping in everytime the dow is off 2% is healthy. You are enjoying all the liquidity injections and rate cuts and you probably are begging for 0% interest rates so that the federal reserve can pump the system back up to where it was just 2 years ago and create another credit crisis that was caused by the same steps the federal reserve took only 5 years ago to pump up the economy to extreme levels. Wake up were in a recession along with a bear market, forget about the rate cuts, rate cuts are only going to hurt the economy going foward. You will see the negative outcome of this in the months to come. I like listening to permabulls, makes my day a little bit better, keep up the great work, see you at 11500. I want to predict something below 11k, but even being that bearish catches me off guard sometimes...