Still quiet. I expected more excitement. I don't think anybody really trades or invests any more. Hot Searches (USA) Aug 6, 2011 - change date Updated 3 minutes ago 1. deion sanders 2. i love lucy 3. joel osteen 4. predators 5. zodiac killer 6. seal team 6 7. paul simon 8. best friend quotes 9. in time 10. angelman syndrome 11. rick perry 12. louis ck 13. tito ortiz 14. the beaver 15. max payne 16. guatemala 17. keith richards 18. lollapalooza 19. finlandia 20. diners drive ins and dives
TL from the 1350 drop has been broken, two small bounces above (1194 and 1184.75 pivots). From a purely chart standpoint, I'm leaning long if the mkt holds above 1170.
The way I see it is: there are some traders (Paul Tudor Jones) for whom making the right call this weekend will make their year, maybe their career. And then for many others, you're making money just fine the rest of the year.... If you're one of these boring traders, and I think I am, I just don't see the motivation for playing with fire here. I'll give up the potential 10% rebound next week, if it mans I avoid the potential 1987 crash. The sidelines are a great place to be, right now.
Perusing the response thus far it looks like a gap down reverse but no traction on the upside until we wash a few more times. Unless of course another event trumps this event---Europe, FED, WH, etc. This is like a game of "Hearts" also called screw your neighbor. The Quenn of Spades has been played but a lot of Hearts are still unplayed including the ACE. I am now long 12.5% the rest getting negative yield in Cash......Once we contract in the VIX there will be plenty of opportunity to get "LONG" if that's what is dicatated. There is no place to put money now except cash. Which once the capitulation is reached is gonna make equities soar at least short term.
I'm still trying to figure out where the money will go....bonds should drop, short term notes should drop .... stocks should drop....maybe foreign bonds?
Billionaire Warren Buffett said Standard & Poorâs erred when it lowered the U.S. credit rating and reiterated his view that the economy will avoid its second recession in three years. The U.S., which was cut Aug. 5 to AA+ from AAA at S&P, merits a âquadruple Aâ rating, Buffett, 80 http://www.bloomberg.com/news/2011-...aken-still-doesn-t-see-another-recession.html --Abby Joseph Buffett Out
http://finance.yahoo.com/video;_ylt...Rlb3MEc2xrA3ZpZXdhbGx2aWRlbw--#video=26206190 ....uh......this guy......uh.......at.......uh......Standard and.....uh......Poors......uh........doesn't sound.........uh........too.........uh........bright........ .....uh............