Got a bad feeling tomorrow. 12:31 a.m. EST 11/07/07Futures/Extended Trading(Roll over for charts) Last Chg Settle DJ Industrials 13615 -62 13677 S&P 500 1518.50 -6.50 1525.00 Should of shorted at the bell on that covering run up.
Are you guys watching the S&P 500 right now? What's going on, anyone got news? What's up in asia. It's 1:09am right now wall street time WE NEED A SELL OFF
all we need now is Paulson (Baker) to say that a weak dollar is ok and whammo, -5% , no more trading curbs, its circuit breaker time
I don't, don't see any major headlines. Maybe an emergency rate hike to save the dollar...lol. S&P 500 Dec '07 1514.70 -10.30 Nothing crazy in Asia right now... Probably bounce of this in the morning. Who the hell knows...
911 was a learning experience trading such a crises. This one is going to be even a bigger learning experience. Catching tops is a fools game. Let it break. The moves are bigger in the second phase than the first drop. This market is not going to crash the way you peope think. 7% down day is not going to happen. When the Bear is realized, it will be around for a decade. Plenty of time to make money on the short side. What you see now is a move to weaken the US. A transition away from the dollar is the call and the dollar will NOT COME BACK IN OUR LIFETIME! It is over, finished for the dollar and will not rebound but float at these lower levels for at least a decade. Oil, going higher than 100 by Xmas. Gas prices are not lagging and will finally come to par with oil movements. Consumer is dying but does not yet know it. When they wake up, panic & fear will strike then and spending will hault. Global Markets will not "Follow" the US markets nor will their economies. M&A activity is on the rise in Euro land and Asia and funding of venture projects is massive. American funding of new business is halted, Feds cheap money is going toward the life line of the 4 Major banks. lending has halted across the board in the US. Bank Faliuers are coming but will not be televised. It will not be like 1929. The banks will disapear via M&A activity guided by the Feds. Thus the failuers will be masked behind "Consolidations". This is going to be one exciting decade for those who play the global markets and who participate in M&A activity world wide. GAME ON
PPT has been active in the market for too long. Don't expect any sharp drops. At 2:30pm PPT will come to rescue and all loses will be reversed, like it has done in the past. However PPT is not prepared for weak dollar. ForEx market is far too big for intervention.
I think after some volatility and a Santa Claus rally which may try to reach DOW 14000 again...January earnings season is when the true bleeding will probably start. I'll be waiting to short if the DOW and S & P reach up toward their recent highs, the economy is running out of steam and the market sentiment is skittish, there's a vibe of everyone ready to jump ship, time to dust off that bear suit!
yes, plenty of rally time before the Matrix shows. 08 is going to be bloody, this could cause the first in many capitulations.