Yep stock index futures, the perfect tool for market manipulation. The indexes have not made a lower low. IMO fund managers will do everything to keep the market positive by at least 6-8% for the year. I don't expect a big selloff. and I expect the market to trade in a very wild range till year end. Until we see a lower low technically the trend is still up. An SP 500 cash close below 1350 would be bearish. The spread between the cash and futures is narrowing and were no were near contract expiration thats bearish.
Its starting to get a little easier thanks to the feds last statement. Its never bullish when the financial are in trouble. Things may start to unravel in 08, the country is sick of national debt and the Republicans. Everyone will run from Bush. The only way the Republicans will hold the white house is if we have a major terror attack. Never underestimate the political scum in washington.
goldman down another $10... down $20 in 2 days... hard to get 15,000 with goldman going down every day..
Why don't you just put him on ignore and spare everyone else his mindless ranting when you quote him.
Goldman market cap=86 billion. L3 assetts on their book=+/-73 billion. you do the math. This whole financial system is on a house of cards with a gale coming. We will finally get to see how efficient the credit default swap market is, and if it can avert a disaster.
End of day run up was early and failed. End of day run up's almost never follow through. You will probably see more of them just as you did back in July/August. The point behind them is not to try and squeeze shorts, or money on the sidelines coming in or any of the other brilliant excuses you hear on TV and read on MB's. If institutions wait too late in the day to do this it is illegal, it's called Closing Price Manipulation, or Marking The Close. They dare not do it in the AH either. If they try to manipulate too early it can fail as it did today. Some Institutional intraday buying power is set at the beginning of the day and based on the net worth at the previous close. The intraday margin stays the same no matter the change in net worth; so by giving all they have at the end of the day they can give themselves an artificial margin trading level. Remember, hedge funds are using 10:1 while retail traders are 4:1 Many use this tactic to avoid a margin call !!! Unfortunately many funds have blown their capital trying to manipulate while in accord with others who stab them in the back by selling into it. I think you might have seen a bit of that today.