Huge volume spike right at 3 with the market spiking several handles to the green. Unreal what direct government intervention can do to a market. In all sorts of ways.
PPT has hit the panic button and they are jamming this market higher to directly change investor pyschology. Unreal.
Who can fire Ben? The President? These jokers need to be held accountable, are they under tenure or what? I don't want another bubble building Greenspan clone at the helm for 20 years.
Being long at the beginning of a rate cut cycle is the worst time to be an investor. When the Fed stops cutting considers raising rates, that's the time to get long.
Uncontrolled crash? The market was down 4.5% in the futures. That's a crash? Ok, if the markets went locked limit down 10-15% in disorderly markets, the Fed stepping in is understandable. But preemptive strikes to prevent the market from falling more than 5% is blatant market manipulation by...
We are oversold so this rally will last for at least till FOMC meeting. A bear market that just gets started usually has its sharpest rallies at the beginning. I expect this to be a rally that will test the will of those that shorted today or before the FOMC meeting.
This sets up a dangerous precedent for Bernanke, and it reinforces my suspicions that he's another Greenspan clone.
August 17. December 12. Now January 22.
Those were all surprise moves to either cut the discount/Fed funds rate, or introduce TAF. That's 3 surprise moves in less than...
The only person that capitulated was Bazooka Ben. This market is going to have to washout, rate cut or not. Ben just gave the bears the green light to short this market to oblivion. What is Ben gonna do, cut rates again tomorrow? LOL.
No capitulation today. The Fed blew it. This was the one day to make a clean bottom and he totally blew it. We're stuck in a huge bear market now, and every rate cut should be short.
Horrible timing by Bernanke. He couldn't have timed an emergency cut worse than pandering to Wall Street by cutting rates after the futures were down huge.
Total pandering to the stock traders with n o recognition of the real economy
Makes the Greenspan put look like a total out of the money long shot put.
Bernanke put is always near the money!
What a farce. We can't let the markets trade on its own, watch for the PPT in the afternoon scooping up futures in the closing hour. This is sick.
Total BS by the Fed. Panic by the Fed. They are gonna be out of bullets by March.
This is totally sick. We're still going to crash, except we'll have massive inflation with it!.
Tech has been outperforming the blue chips. Look at the NQ right now, its dead even with the ES even though its a more volatile index. I think its just profit taking in an index that has been strong. I bet DAX bounces back faster than ES once we get the market turn.
Are we finally going to get it today? Europe seems to have capitulated this morning for all of 45 minutes!
Knowing how hardheaded the dip buyers are, I don't see any white flags until we get to 11,000 on the Dow.
I noticed that the markets started getting pumped higher about an hour after Europe open, seems like the American early birds are putting in bids thinking this is the bottom.
I think DAX outperforms the ES for the rest of this week. Action in the ES looks like funds milking the futures to...
Margin interest should be a non factor for quick trades. Also, I think today will be weak all day so if you buy, I would buy near the close, not the open.
Something is not right here. After the Friday close, the DAX has gone down 10% while the ES is down around 5% and not limit down at the moment. There is no way that the DAX has a beta of 2 over the ES and aren't these problems based in the US, not Europe?
Looks to me like people are...
haha. I couldn't sleep much either. Looks like a lot of people are having sleepless nights. It is going to be brutal today. Those that buy at the open will regret it at the close. Forced selling will take over after 3:00 pm EST.
Fed credibility? You call Greenspan's reign of saving markets and moral hazard and bubble building as credibility? Bernanke is bad, but Greenspan was the worst Fed chairman ever. He never realized the consequences of his actions, only the short term effects that it would have in soothing...
Seems like we won't be getting a rate cut today. Futures are holding up very well considering all the technical damage done to the market yesterday.
We might get some selling here in the AM from those disappointed by the lack of Fed action and also wary of buying after such a big gap up.