Hmmmm, a quick question?? If that was capitulation yesterday, the magical washout that Kudlow was foaming about last night, then why are we gapping down this morning? That 400 point rally in the Dow was formed WITHOUT deep wiggles, did somebody anoint themselves the JP of the <cough> '02 "crash"? The tape sure felt like it was a put up job, trying to avoid the -400 "7th worst day in history" etc.. etc.. day. Trying to prop up a market is like attempting to stop the tide, you can delay the inevitable, but when the sandbags are breached, the water comes crashing in! If there was ever a perfect example of my motto this is it! Have fun out there today! -Bo Yoder âThat which should go up...SHOULD GO UP!â
Agree with your observations on aft rally: not the swift volatile short covering type except for the final 10 minutes. The NDX though is putting in a series of higher bottoms going back a few weeks, so I wil be watching where it is after the Dow is down the futures idic of 100-150 this morn. If it is outperforming I might press the long side with QQQ's and see what I get. Not even talking about a bottom just the poss of a 2-3 day bounce just might be in cards. However my comments on yest were "those are the days I live for", It kept me interested all day and kept my juices flowing!!!
Bo; I am not the type of trader to look too deep into the nature of moves BUT there is not a doubt in my mind that the rally from yesterday afternoon was artificialy inseminated THIS IS MY TRUTH Publias
I don't subscribe to any 'conspiracy theory'; I feel your comments are misplaced and result from having a near term neg bias on mkt; hence you are trying to rationalize your inflexibility in taking advantage of any upside. As I mentioned earlier any cursory inspection of daily charts of NDX would make one BUY any relative strength in here(as is occurring this am).
Stkcowboy, With all due respect you assume too much. I had one of my best days of the year yesterday participating on both sides of the action. And as I said in my post I usually do not look too deep into the nature of moves because quite frankly I could care less the causality BUT that move yesterday simply did not feel right to me, I have found over the years that my belly is much much more intelligent than my brain, so I will go with my intuitive artificial insemination theory Publias BTW; I was on both sides again today. Artificial or not It is what it IS
Conspiracy theory is a funny thing. On one extreme you have guys who think the trilateral commission runs the world. On the other extreme you have guys who think nothing ever happens we don't know about. I'm not sure about a literal government sanctioned PPT with Greenspan as the head but I'm sure some variant of it exists. It's very easy to think the heads of major institutions have an informal agreement to get together and take action at a single agreed point in time when things look horrible. Birds of a feather flock together. Why not heads of mutual funds and investment banks if not central bankers? Do you know how simple it would be for the fed to establish a special 'emergency line of credit' specifically for supporting such occasions? It would be stupid for them NOT to lock arms when they all have a mutual interest in preventing meltdown, and the government would naturally wink at any such arrangement because politicians don't like crashes either. Do you know how many policies and arrangements go on we know nothing about? Hundreds, thousands. Americans live in a free society but that doesn't mean we know all that's going on. Skerbitz you mentioned you live in China, I would think you of anyone would be open to the idea of leaders doing things no one knows about....
ROFL no you aren't missing anything, I am just going insane that's all I read a post from someone named Skerbitz yesterday talking about how the women in China are hot and for some reason stkcowboy translated to skerbitz in my head and I didn't doublecheck... guess i'm one taco short of a value pack today p.s. cheers Skerbitz sorry 'bout that yabba dabba doo