The U.S. market will not and cannot go down. See the other ET threads on the Plunge Protection Team. They are real. It's codified into federal law. Who in the world would want to be short? When you find the most powerful financial entity on the planet supporting a market, or working it in a certain direction, you *join* it. Riding the coattails of a big player who's rigging a market, is the best thing you can hope for in your trading life. Shorting is like going to the highway, and waiting til you're certain you've seen the biggest truck and then going to the road to stand in front of it. Makes no sense whatsoever.
I agree. "they" began a couple of hours ago, ticking oil down and buying msft. It worked again. Its pretty incredible.
if you look at the NYSE TICK from that day you can see the strength and where it really started to hold for the day --- http://www.ttrader.com/mycharts/display.php?p=36324&u=macroevent&a=MacroEvent&id=1511 That was a very strong showing for the TICK {September 9th}, and that type of day you just stay long or you take any sort of long signals that you use. That buy program activity was unrelenting so you had a lot of support that was pushing the long side for any positions you may have held long that day. When the TICK is that strong there is no sense in taking any short signals --- just keep trading the long side on a day like this.
http://www.nyse.com/Frameset.html?displayPage=/marketinfo/ProgramTrading.html you are under our control.... do not resist us....
how is this possible???? ------ SEPT. PHILLY FED PRICES PAID 52.7 VS. 25.9 IN AUG.------------ but ..........Aug CPI +.5?.... huh