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Looks like PPT is stepping in here at support. The PPT and the Fed are chartists! They will defend 1380 to the death.

It is funny how so many hopes are riding on this intermeeting cut, I bet a large number of swing traders are long only because of that hope. This just tells me that if there is an intermeeting cut, the high will be put in within the first half hour after the cut and sell off all day.

This market won't capitulate with Ben waiting at the wings. We'll drip lower, have a buy program save the day once a week or so at the close, and keep dripping lower. The only catalyst is the intermeeting cut, and if that doesn't come, then the FOMC meeting on January 30. Earnings don't...

Its coming, just a matter of when. Will Bazooka Ben go in there with guns ablazin on expiration Friday like last time? I think that's in the back of everyone's mind.

B1S2, I really admire your patience! It is unbelievable how long you have been short through all the rips and dips. Livermore was right. The money is made in the sitting, not in the trading.

When is that intermeeting cut coming? I am waiting! Doesn't Ben have some friends at Citi that would like a rate cut right about now?

Looks like sell the news reaction on C. Today is going to be a dismal day for the indices after the pumping yesterday. Look for more pain and weakness all day as people get nervous about upcoming earnings.

From the chatter and the sentiment that I see among the institutions, hope seems to have returned since the jobs report came out. A small rally in the financials and people are getting hopeful that the worse is over. The price action wasn't even that strong on Monday, and people are set up...

Or if there is an intermeeting cut short the runup and stay short till 3 days before the FOMC meeting.

Yes. I haven't been this bearish about the stock market since fall of 2000. Hyperinflation is the only thing that will save the stock market, as earnings will be buoyed and bump up stocks. This Fed will keep rates low even in a hyperinflation as the economy will be weak.

It wasn't a mistake. The maximum order size for the E-minis is like a 1000 contracts or so. It was a blatant attempt at spiking the market lower to spook longs and run stops. The CME had to bust the trades.

If the markets are up big today, it will set up a monster short down the road. This market is totally different from the one in August and November. The price action is much weaker, and the potential catalysts are much more limited. The rate cut as catalyst for a long rally has already been...

I just looked at the chart of IDCC and it looks awful. That stock has more pain ahead. Plus the tech sector is overowned right now and very vulnerable to big selloffs like we had the previous couple weeks. I would bail as soon as Bennie cuts rates.

prolly a gappa on Monday. Gut feeling.

Greenspan, the king of bailouts. The crash of 1987 haunted him throughout his whole career. What a pathetic man.

From the looks of it, I don't think anyone wants to be a hero in the last hour. The head traders are already headed to the Hamptons, a big selloff would be a good buying opportunity, but I think the boys will keep the selling contained so that weekends aren't spoiled.

Just buy at the close if we sell off, the PPT won't let the market get below 1380 on the S&P, so not much downside risk.

The Fed just needs to get the rate cut out of the way. All this posturing annoys both the bulls and bears. I think Bernanke pulls the gun out next week intraday with a 50 bp bopper aimed straight at the chest of the shorts. The Fed are a bunch of swing traders.

I think its just gonna be chop the rest of the way, no real trend forming into the close.

Unlimited buying power at the Treasury. They must be loaded to the gills in S&P futures, putting on huge buying programs at the close of trading. I bet they never sell and just settle at expiration. No wonder the market never collapses. Whenever its on the brink, it's saved.