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I would say retest of november lows is in cards and we might easily achieve this within couple of days. Then we go down Just MVHO

I agree that we might have seen bottom in financials (should be retested) but my play for next couple of weeks is shorting energy complex which (I think) will lead the next (last?) leg down soon Good luck!

My target is around 4,5-5 where the gap is. We might reach it by thursday easily. Even tomorrow is doable

Rally this week? Easily. (if bloomberg displays things correctly we are rallying right now) Bottom this week? I don't think so... but unlike Mr Rennick I believe we are VERY close.

Are you expecting a down move for a particular reason or it's just your gut feeling? Personally I believe in opposite. Up until thursday and them KABOOM! My reasoning is based on lack of sellers today (low volume)

I think financials will rally BEFORE thursday - and then we should sell... It's sort of buy the rumor I think

Doing OK. Bought FAS at the open - holding overnight looking for 4,5 level this week (this level represents gap in financials) on rumors about mark to market rule.

That's exactly why I plan to short energy for the next leg down. Just to be on a safe side

As for the coming meeting I think it will be classsical buy rumors sell news event. So I wouldn't hold FAS after thursday

My idea of the market behavior for next 2-3 months is as follows 1) We have a sharp rally this week and financials will lead it 2) After this S&P will go to new lows within couple of weeks BUT financials will NOT make a new low. Instead I think that energy sector will be crashing. If this...

Well, huuuuge negativity is something you can read in PUT/CALL ratios and those are not showing it yet

I hope so much that you are right but if you'll look at consensus on bloomberg it shows waaaaay too low numbers so it won't take a lot to beat the estimate

If you are right (and I hope so) and we will have huge volume tomorrow as well as put/call ratios going sharply up to november levels - then I would definitely step in front of that train

Personally I would prefer to have ugly data in the morning and a gap-down opening. Not because I'm short but because this will give me HUGE reason to go long including 2 gaps in a row :)

I tend to agree, Sir. BUT if we are wrong and tomorrow will be an up-day like yesterday - this is going to be very-very scary looking towards next week.

That's exactly the question I'm asking myself. put/call ratio should reach november levels for me to believe we have arrived to some sort of a bottom... BTW, the online charts for PUT/CALL I use have 12 hour delay. Can you suggest any online service providing those faster?

I trade sector ETFs and commodity ETFs. I'm subsribed to Stockcharts.com with real time (15 sec delay). That's enough for me. BTW The only encouraging sight for DOW I see is that $TRAN (transportation average) has shown some signs of bottoming out yesterday (narrow price spread on big...

Has bought NAT GAS early today and expecting it to rise tomorrow on report... As for the DOW I thought we will have 2-3 days rally starting from today, but I do not like todays action (TRIN, volume, etc.) So it might very well be that todays move up is all rally we get for this week

Take care, Sir.

I totally agree with you in a sense of buying when fear dominates. But my point is just delete russia from you buying list and stick with oil instead. It's virtually the SAME THING