with both the Retail Sales and PPI reports being released at 8:30 est. We can certainly expect to see some volatility in the first couple hours of trading Last month on Oct 14th, when both reports were released at the same time, the Russell 2000 gapped up .60, then quickly reversed down 1.10, then reversed again and steadily climbed, closing up $1.70 from the low of the day. That was some wild action. Is everybody ready for some big fun tomorrow morning?
Upon further review, I noticed that Oct 14 was the day right after the short-term low of Oct13. So That might explain some volatility, with the markets bouncing off their bottoms. But I'm still expecting some good action Tuesday after the last 2 very slow trading days. cheers,
Every morning is fun....but yes there could be a move out of a narrow range from today....Like no kidding Hog... Actually there is something to this "INFLATION WATCH", remember i think in terms of what the mkt is expecting, not what the fundamentals suggest. But lately the perceptions are right on target. Is inflation real or a mirage? That is the whole question, if you answer that then you will make Ben's new job a walk in the park. The mkt is in limbo for sure, the pres keeps shooting himself in the foot, Irag is no more "MISSION ACCOMPLISHED" than Heidi in hollywood was a nun, deficit twins, dems look like the calvary arriving in time to save the republic, Girly Man looks like a wallflower at a sockhop, ..on and on....next year should really be a fun year.....
Also isn't Big Ben being questioned by congress in regards to his inflation band and what kind of inflation he is comfortable with etc.?
looks like there is a bit of "long covering" here in the ES so far tonight. or wait --- were those new "Swing Shorts" after a very solid 12 day run it is a bit tough to hold LONG's heavy in front of the one news release lately that has put red to the time and sales window.