What do the bank downgrades mean for tomorrow?

Discussion in 'Trading' started by BBenterprises, Jun 21, 2012.

  1. Were these changes priced in or is this going to result in strong downward movement?

    I'm a bit nervous myself, considering the financials didn't even lead today's bloodbath!
  2. Buy the news?

  3. The last time we had a large down day (last Monday actually), the market moved up 6 days in a row for 58 points low to high.

    I don`t follow the macro picture too much, but surely there have been an abundance of less than stellar economic releases lately.

    I don`t make long-term predictions and I only day trade, but I don`t think I would be comfortable owning stocks now. :)
  4. Everyone who is clued up knew this was coming, but I can see some 'Belgian dentist' retail folks getting spooked.

    *For the record, I have nothing against Belgians or dentists :)
  5. Yawnnn... It means probably drop it down a bit out of the open... Rip it up 10 points hard... Then let it drift toward close.

    It's the most effective way to trap and blow out the shorts before we head lower.
  6. makes you wonder just how much American Daytraders misinterpret what is going on in Europe. All I know is what I see on the news. If the European news is as innaccurate as the USA news we are all trading on what we don't understand.

    Speaking of Belgium, did they ever elect a government, or are they still "hanging loose"?
  7. The only news that actually matters is the fed.

    People didn't start to freak out about their being no QE3 until price started to slide... Then everyone started to freak out in mass...

    I had a sell signal back on the 19th because the market was severely overextended and due for a downward wave cycle but was not expecting this big of a pullback so soon.

    Looking for one final rally cycle in the next couple weeks before we head lower hard...

    Next month is when the big bear party comes... Bernanke doesn't seem interested in saving the market with QE3... :mad: When it crashes he will get his act together and start another QE program!

    People are tired of twist... It's just playing with tinker toys when we need a hammer... We need something real to kick start another major rally! A bunch of QE and a new country wide credit easing program would do it... Cmon fed!
  8. Hahaha! As far as I know, they did. But it is just as paralyzed as the last one. In some sense the most appropriate place to put the EU capital is in Belgium (Brussels). Capital of a disfunctional (dis)union is in the most disfunctional country of all.

    Basically the split in Belgium is on linguistic/ethnic lines: French vs Flemish.