The big build up, for nothing. Team Obama was hoping that they really were smarter, but in the end it's just a slogan and this idea of hope will start to wear thin soon. Looks to me like the next leg down is sooner rather than later as I first thought, the stimulus has also done nothing for stocks' outlook. New low here we come.
Shouldn't take long now to hear about the stimulus package passage. Expect another leg down in the market. Volume has dropped way off.
I thought it was Bernanke's job to bolster the stock market, by lowering rates whenever the market goes down a few points.
As a trader I don't care, but I'm just saying the stimulus won't help the stock market. Having better banking, maybe, but this injection of porkulus won't send us to Dow 12000
The proper plan was to ALREADY be SHORT from the last three days distribution/price rotations!!! http://www.elitetrader.com/vb/showthread.php?s=&threadid=152053&perpage=6&pagenumber=27 I have been cycling the ES short for several days looking for the sell off........."Stay SHORT, and Stay OFTEN!!!"
The public needs to face the truth. Especially CNBC hucksters. Geithner or anybody else has no clue how to fix the mess. Only thing they have is keep printing press going and throw money around. Wait till things get dangerous, then what will they do.