The Rally Since 1PM . . .

has been brutal for the shorts . . .

Anyone trying to pick a short term TOP today is going through excruciating pain.

The bid in the S&P's
has been relentless!

From 1286 to 1304.
Ouch!

Anyone been short the last hour or so?
I've been short since 1298.00 in several stocks and it does not feel very good!

:eek:

 

I've tried selling rallies on Usd/jpy and have been stopped out all 3 times: 1 breakeven and 2 for 10pip losses. Don't fight this rally...

 

So are we bouncing off a double bottom? Have we cleared the first resistance level yet?

 

Maybe we're rallying cause we're still in a bull market which began on October 2002. Why should it end now?

 

you should long eur; eur is yeild positive and can run up higher from here.

 

No, 1302.64~ was not cleared.

 

The trend is still down until proven otherwise.

 

Yes, I was planning on buying this dip here. Thanks.

 

What we have is a fed induced rally from an extreme oversold condition thats it.

 

Agreed.

1300ES and 12k YM close would be huge for sentiment. I am curious as to how this plays out up to fed meeting. Will we just stay flat, then bounce high after cut then fall, or will we get some more downside ahead of meeting?