From the chatter and the sentiment that I see among the institutions, hope seems to have returned since the jobs report came out. A small rally in the financials and people are getting hopeful that the worse is over. The price action wasn't even that strong on Monday, and people are set up long going into the Citi news. The market is setting up for another thrashing soon. Only hope is an intermeeting Fed cut or PPT intervention.
Don't worry, bear protection team are doing their job. S&P needs to flirt with the 1390-1400 level. We know C sucks but my gut tells me INTC will be good after the bell and Wed. will be like the bailout of the DOW by IBM today. Bleh, who the f knows, futures could do a 180 in a few hours...
Looks like sell the news reaction on C. Today is going to be a dismal day for the indices after the pumping yesterday. Look for more pain and weakness all day as people get nervous about upcoming earnings.
When is that intermeeting cut coming? I am waiting! Doesn't Ben have some friends at Citi that would like a rate cut right about now?
Its coming, just a matter of when. Will Bazooka Ben go in there with guns ablazin on expiration Friday like last time? I think that's in the back of everyone's mind.
Yeah, its in the back of my mind. Let's spill more blood today and get it all out. I hope the selling stays and intensifies today. I'm tempted to make a mid-morning dip buy though.
You know, depending on where we are going to end up today/tomorrow/thursday, it is tempting to consider those one to three day calls for friday, particularly if we fall down... Hmmm.... lottery ticket for sure. And I do like buying infinite gamma. Really.