Discussion in 'Trading' started by KINGOFSHORTS, Sep 20, 2008.
So what will the market do following the news.
i put down "Up" but i have no fking clue whatsoever. this market is as confusing as it gets.
Imo, we follow the Nikkei.
up 200 at the open and close down 1000
Down 71 after reaching a 128 to 161 low. If down more than 200 you will see the bail out go up to 900+ billion.
futures don't give a crap about bush's plan. i wonder how many will be willing to buy the possible gap down.
Bailout aint been approved yet. So monday will be interesting. Even with a short ban it will not stop the markets closing down. Not if people keep trying to unload positions and no interest in buying. I sure as hell would not want to touch those financials knowing they just stuck an artificial price bottom courtesy of the SEC.
Volume will probably be weak with pressure on prices downward due to lack of interest.
I am staying on the sidelines this week, although I stuck a 100 sell to open contract order at 1.60, maybe someone will bite.
Not much hope of up, the ES has traded about 32 points below fair value so far tonight.
market closes down,
rescue package increases to 1.4 trillion with 700 billion used to support equity markets
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