3% rally tomorrow, I wouldn't count on it but you never know with these markets, it would just be a selling opportunity.
Didn't Oracle come out with some good stuff? Also, futures are all green and trending higher at this point. My plan is for an up morning, and a down afternoon (nervousness about holding over the weekend, what with Greek spreads having blown up yet again, the well gushing away, and all the rest of the newsflow this week). Fade not just at will, but with abandon. I might do the same, depending.
GDP is the news to pay attention to tomorrow, 3% is the forecast, anything below 2.5% in my opinion and the sell off continues.
The markets were already kicked in the teeth, so when the bad news came in, they didn't flinch. Or looking at it another way, shrugging off bad news is bullish. Besides...the GDP is in our rear view mirrors by the time it's calculated. I think we're going up. SM
The Dow 10,000 hats are now back in play. Remember, 1040 is the level everyone is watching, does the SPX bounce of these levels again or does it break right through sending the SPX straight below1000.
How many said the correction was over?? Damn, imagine being the fool who bought the hype just 2 weeks ago when most indexes were closing near or above their 200 SMA. Many said the short term correction was OVER and that the markets would continue to break out. Now the DOW is celebrating DOW 10,000 for the thousandth time. Watch 1040, I will keep repeating it like a broken record, if you think this selling was bad over the last 2 weeks or so wait until it breaks that 1040 it has bounced off of the last 2-3 times. Will be back in triple digits for the SPX!!!!!!!!!!!!!!!!!!