This is the only blog that AFAIK hinted at a correction one day before it happened: http://www.priceactionlab.com/Blog/2011/07/is-the-gap-in-qqq-from-a-week-ago-significant/
Why do you believe an anon blogger over official figures released by the US govt? Kind of a prime example of how people let their patriotism/emotion/blindfold get in the way of making money.
Sorry Bone, Im missing the point - an up trend which is now balancing. There is no coincidence that the market is balancing in this time of uncertainty. We both know what happens after a market gets in to balance, the question is, in what direction? Our opinions seem to differ. Hey, we have a market! http://www.usdebtclock.org http://www.wtfnoway.com/
I do not have an opinion about the direction of the market - as a spread trader I couldn't care less. The point is that armaggedon gets priced into the market. That last price print you see is a composite distillation of everything that is known or suspected about that particular instrument's value.
It should be public knowledge If it was there would be scurrying of the reptiles into even darker corners of the financial world imho
It should be public knowledge If it was there would be a scurrying of the reptiles into even darker corners of the financial world imho
It should be public knowledge If it was there would be a scurrying of the reptiles into even darker corners of the financial world imho
Not many people who place stupid trades are able to gain the money required to place *this* trade. But who knows... maybe he knew the trade would get attention and he is bluffing his way into making some money.