This rally is transparently fake. Look at the volume here just 80 minutes before close. Three stocks are adding 38 points to the 78 on the Dow as I type this, with oil producers heavily weighted. Unless we have a sharp reversal in oil soon, with capitulation selling, what catalyst is going to provide any support to these levels? I also heard that Mr. Margin was making a ton of phone calls yesterday. That may be one of the biggest reason for the technical damage done to commodity/coal stocks.
I'm not obsessing over it; the media, including Bloomberg is obsessing over the 'rally.' I'm simply pointing out their lack of integrity. And screw you, Landis. Have a nice 4th.
Let me get this straight . . . You post a new thread entitled "THERE WILL BE BLOOD" and you don't have the balls to take accountability for it? Instead, you conveniently say that it is BLOOMBERG to blame for the "obsessing"? No where in your OP did you even say anything about the Media, let alone Bloomberg. Time to grow up my friend and take some accountability - - - even on an anonymous message board.
Simple sell off where everybody heads for the exit in sectors/stocks that were way extended from their moving averages. They held up a little too well while the SP500 was plunging. No need for "hedge fund margin call" theories, I'd call it reversion to the mean
Are you serious? I'm stating an opinion that any implied statement by anyone, including media talking heads, that today's 'rally' may provide support and halt the decline in the indexes is misleading. I did mean it when I said to have a nice 4th, even though you can be a prick sometimes.
A rally in something that has been going down seemingly forever during the Bush Administration . . . and no one gives even the slightest of probability . . . The Dollar.
Very true, I thought he was brilliant in Gangs of NY too, that character he created for the movie was fantastic. Great villain