%% NOT a predicition; looks like they're buying UPRO today, off 200 dma/leveraged longs. BUT with OCT tending to be a '' bear killer, '' could see a bear to be killed, or more accurately bear hibernator LOL, Bullish Comments apply to SPY + QQQ; TSLA looks like BEAR is still strong.Just when it looked like longs could make a few cents; CA cop car had to stop, not enough power. Pathetic/ crooked car co..........[Edit 7 minutes till close, looking good for longs , but not a prediction]
Another really bad miss on the ism.. If that number came in strong the markets would have probably erased yesterday's losses but not quite so. Dow off 1000+ points in 3 days. And yet again every one is still cheering and believing that the economy is going gangbusters!!! Thursday’s losses brought the Dow’s three-day decline to more than 1,100 points, adding to the Street’s dismal start to the fourth quarter. The Institute for Supply Management said its reading on the U.S. services sector fell last month to its lowest level level since August 2016. The ISM nonmanufacturing index came in at 52.6 for September. Economists polled by Dow Jones expected a print of 55.3.
If you listen to Bloomberg, they are saying big selloff might come. They are not "everyone" cheering.
Yep. Seems like we're back into the ol' Bad News is Good News funk.... It seems we have a bit of a methodological contradiction: in Black Scholes Merton, rho is given such short shrift that IB's TWS doesn't even show it in their Greeks section. (And how many others? Does anyone discuss rho? HAS anyone discussed rho since Alan Greenspan's first years as FED chief?) But while rho has devolved off the screen, we now have FED drivers (being the actual economy, as per employment, ISM-services, ISM-manufacturing) playing outsized roles on market-desired moves. Why? Because of what they portend to interest rates. Sheesh! So, interest rates matter to the market -- they're a major driver[!!] -- but they're not enough to actually model. It's more fun to react in shock when the underlying economy's fundamentals pop in the headlines.
I gave this a "Like" until I realized that there was an "s" missing from the short-RTM expectation -- I don't carry that conviction. I respect the move, but not enough to lend a hand. Too much contradiction in market noise to ferret out the signal. ("For my tastes" at any rate...) Nice exit, though. Can we do a half-"Like"? ["No." Dayyyyyumn. ]