Jamming those futures higher: 9:14 p.m. EST 11/25/07Futures/Extended Trading(Roll over for charts) Last Chg Settle DJ Industrials 13054 68 12986 S&P 500 1449.80 7.90 1441.90 We'll see if this carry over rally can last. Wouldn't it be too east to predict that the markets rally into FED and then fade it? I for one am not counting on Santa Clause. I hope he backdoors perma-bulls.
I agree..play to the Fed day and then bail with whatever gains a person has if the fed announcement causes a sell-off day. Anyone that is still heavy Long equities should be using this time as a gift to sell into the last run of strength before 2008.
I have 3 long positions I took out on Wednesday morning, one of them XHB at around $17.80-$17.85. If the market opens up 1% or more tomorrow morning Im selling all 3 and waiting for the next dip back below 12800. Most will be taking advantage of this rally to sell some of their positions the did take earlier last week.
I will be very happy if we can even get back to just 1500 again..that will be another great opportunity to play Rydex Funds one more time this year.
Backfriday was huge, spending was huge. Anyone that dissagrees is in denial and will lose a lot of money. Dow was up 180 points last friday. Thats is just the start. There was NO subprime and credit problems. Consumer stronger than ever. NO complaining about housing and gas. Nope. NO one complaning about lead toys. NO one cares. Shorts have been betting against the consumer since 2002 and have as always been on wrong side of trade.
the consumer blew their load on fri because of all the discounts ..of course it was up ...but thats it ... sat and sun here in nyc was actually slow ... market action is extremely bearish today ... follow the path of least resistance ..!!
A 180 point rally in jsut half a day isn't bearish. it would have been up 350 points had it not been a half day. The european and asian markets are also surging. This looks like a complete turnaround and change in sentiment. The subprime housing, lending liquidity nonsense never materialized into anything. The consumer is still spending huge as the data shows.