(1X-1% vs. 1999x1.27%)/2000. Valid for buy on last Friday close, and offload on last Tuesday (yesterday). Division by 2000 is to make odds less than 1.
now that we got >5% bounce from the lows i am totally lost as far as where we will go next. back to my wait-and-see strategy.
Tomorrow morning is going to be interesting, many retailers coming out with sales figures followed by more job data, if initial claims come in higher than 480,000 the market could give back some gains, 500,000 or higher and we could give back at least 50% of yesterdays gains. Anyway a great number of 450,000 or less and strong retail sales could easily keep the rally moving. Next week its all about earnings from AA, GE, GOOG and INTC!!!!
Watching some cnbc today and most money managers are extremely bullish, one even sets his prediction as high as 1300 by the end of 2010. As quick as the downside came it has disappeared as the rally continues, what many forget is how quick these markets can turn, Im still going with a drop in the SPX below 1000.
If EUR/USD goes down, would there be any effect on stock markets? EUR/USD just touched 1.2710. Sellers would start appearing from this level and higher if it manages to go higher in the first place. Half a cent, and the move hould be spent.
They sold last Thursday and Friday at the latest bottom. They bragged about it in last weekend's news. How do their clients manage to stay with them? The clients deserve it, because if I were to show them they would spit on me.