Screw playing the market LONG (slow grind up) into year end....buying Euro dollar pullbacks past few months has been "the game" imo.
And yet the futures market show little change at this moment. Will have to check again before the market opens tomorrow.
Well how about this, even if the market is down 50, 90, 100, 150, 200, or even 400 points it will resume its upward trend days later erasing any losses the markets get tomorrow or thursday for that matter, a few pieces of good news and some more talk about QE3 and the markets will zoom higher. Any drop of 2% or more and people will rush into to buy knowing into the end of the year the market is going to be up at least 5%-10%.
How much of this has already been priced in over the last few weeks? We could have already had our run up based on the expected election results and QE. It should be an interesting day tomorrow to say the least.
Instead of "hearing," why don't you do the research yourself? Too much work? Anyway, contrarian sell signal still on. When permabears turn into permabulls, it's all over but the shouting.
SELL THE NEWS I bought QQQQ Nov 05 2010 52.000 puts @ $0.30 on Tuesday Nov. 2. I plan to sell Wednesday Nov. 3 @ $1.00.
Market is priced for perfection. Unless everything goes right, could get ugly. Otherwise, grind up through xmas.
Yeah, the Santa rally works best when there's a correction in September/October. When there's nothing but a rally in the early Fall, don't expect too much in November/December.