Did you notice that the market shifted in its fundamental dynamics, today, Mon, March 28th? CNBC in the premarket commentary on the strength showing in the S&P's was from these events: 1) Japan pubically stated that they would no longer suppress the Yen/USD (or some similar comment) 2) Europe circulated rumors that they would lower interest rates and no longer oppose US based assets 3) GE had finally come from under Arb suppression and had targets over the $31 range ----- All these events coincide with the running of my new and improved commercial... Did you see it:? "We can rebuild him",, they said... "We can make him stronger, faster, than he ever had been before"... Hey, little yellow man, kicks but!!!!
11:01AM Floor Talk : Traders attributing today's market strength to several items: 1) Wachovia comments suggesting staffing companies are flush with business coupled with the firm's expectations of stronger than expected job data this Friday; 2) UBS suggesting that in the absence of bad news the trend of the stock market should be materially up. In the event that any good news comes out soon, the firm would expect the market to move "notably higher", reaching or surpassing firm's 1200 S&P 500 target price (see 8:34 In Play comment); 3) bin Laden rumors resurfacing again, however, this is strictly speculative with most traders citing serious pessimism given the frequency of its occurrence during strong trading days.
"Did you notice that the market shifted in its fundamental dynamics, today, Mon, March 28th?" No. Because it hasn't . Today (ie DOW) - a predicted up day .. piece of cake for zero sum players. Of course everybody else's Monday was March 29 .. could have something to do with it .
I don't know if today was predicted by anybody but it was nice. There was NO SHIFT in fundamentals.........today was classic "Run'em up today and crash'em down tommorow" sorta pre announcement kinda thing. We like to drive the mkt in the direction that we think it should go and then once the news is broadcast we say o.k. that's what we thought now let's take some profit folks.
EOQ window dressing + T+3 means that yesterday would clear in time to have the new positions posted on April 1st/2nd. perhaps, the collective mindshare on ET has had a fundamental shift...used to get more substantive dialogue