is this the most important week of the year? or the last five years? everyone is talking about market topping up, we have the fed this week and cyprus, option expiry, job numbers.. added to that market new highs, spx few points away and april the month market has sold for most years in recent years. so it seems to me the market will top this week. but how will it do it? down monday, up tuesday, new high wednesday and top wed and then down from there? or up monday and tuesday and then down? any thoughts? I think spx will top around 1575-1590. do any of you have a target? I know lot of you amazing pros out there have the 'trade the trend' etc and don't care about tops/bottoms. I'm just interested to hear from those who have a specific target they think the current market will top at.
Options expiry was last week, except the VIX, which is this Wed. Jobs numbers came out the Friday before last, although jobless claims come out every week, it's true. The Fed is this week, that's true. Overall, though, you need a new calendar.
Cyprus. They taxed bank depositors fer cryin out loud, to save the banks. Something to do with not letting the Russians launder their money or somesuch. Stoopidest thing I've ever heard of, regardless of the logic.
somesuch... Foreign banks banned from opening branches in Russia http://rapsinews.com/legislation_news/20130315/266725728.html
Is there really any difference between how the depositors are getting screwed and how we got screwed in the Wall Street bailouts of major financial institutions? No, no difference. It is only a matter of semantics. Screwed is screwed. At least in the case of Cyprus they are getting screwed in broad daylight, whereas we all get (and are getting) screwed in the dark, and in the back, and up the ass.