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Today's high at 1464.40 will be very KEY for tomorrow's trade . . . Must push above that level in order to get things going on the upside.

Still would not be short this market.

No need to pay up and buy an expensive PCI slot video card in order to support that 3rd monitor. Just get anything that has 64mb of RAM and you will be fine. I have a Dell 8300 and am running an MSI Nvidia chip set graphics card with 128mb, along with a BFG 64mb PCI slot card. If...

I would not be short this market today even if someone put a gun to my head. FYI: Goldman closes a big gap at 193.25 and that also happens to be where the .618% retracement comes in. :)

Traded stock options and stock-index futures off of a Quotron from a Shearson, Lehman, office back in 1981. Options orders were sent via the branch key punch operator, stock-index futures were done over the phone as long as you did 5 contracts at a clip. Locals on the floor were making...

If you believe that the Bull Market has topped and believe that we are entering wave 3 to the downside as you suggest above, could you please explain all of the IMPULSIVE WAVE STRUCTURE that you have labeled in Wave 2 of your chart? In Elliott terms, how does that make any sense?

Horrible SPX close. Just horrible.

You guys are idiots. PTJ doesn't even manage money anymore. He manages money managers. For example, the BVI Fund has 55 portfolio managers.

Short positions on a lower opening today? Some of the financials are actually UP today, like LEH, C, and BAC. :confused:

Hee hee. :D

Market grinding higher. No one believes it. :)

As of yesterday's low ( which continues to hold as I post this ) we have retraced roughly 47% of the up move from the 11/26 low at 1406.10 to the high at 1523.55 50% = 1464.83 This also happens to be right around where the 21-day MA is coming thru ( today at 1464.31 ).

With all due respect, if you can't figure out how to trade this morning's market, you have no business thinking of yourself as a TRADER. Try mutual funds.

Excellent post!

You couldn't be more WRONG. Coordination events as the one that was instituted this morning by the FED take a couple of weeks to put into motion and plan for. They do not just "happen" overnight!

I would agree with your question of the FEDS timing. That having been said, I believe that this "coordination" move was being worked on weeks ago. It just didn't happen overnight because the markets responded poorly to yesterday's 1/4 point rate decrease.

Agreed. AAA is a very confused individual.

I never said they were. I would disagree.

This has been in the works for weeks. Nice move by Bernanke.

The FED does not view the Economy as you do. They are not obsessed with HOUSING as you are. If they were, they would have been much more AGGRESSIVE months ago. They clearly have not. There is a reason for this, as is there reason for coming up with "creative" ways to liquify the system...