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Market is really scared eh?

Goldman calling for crude to $200 by September 1st .................................................................................................kidding. :p

Boy, market sure isn't very confident with the Fed. Quite a pullback.

BTW that was a nice entry and I would have joined you if I had been around. Hope you're still in the trade. :) ADD: Or took your profit before this pullback.

Thanks, JD. And thanks for the link. I've been trading this a little differently than usual and even holding through some bigger pullbacks than I usually do. I have to pay more attention to when I post here as I totally missed the pullback right after the market open which I knew was coming...

The Fed Aug. 8, 2011, 4:27 p.m. EDT QE3? Expect, at most, QE 2.1 at Fed meeting By Steve Goldstein, MarketWatch WASHINGTON (MarketWatch) — The Federal Open Market Committee meeting on Tuesday, which just two weeks ago was expected to be an almost throwaway gathering, has suddenly...

You know the Fed better say the right things or this market will really tank and this rebound rally will be a distant memory. Market is still feeling very tentative.

Thx ammo :)

What time is the Fed making its comments and Bernanke speaking?

TF

I'm trading TF and am up $2340 which is actually not that great considering the movement here. Oh, well. :) I was thinking today would be a buy the dips rebound day. And I was right about the initial selloff to begin the day and also right obviously, which didn't take a genius to figure out...

Wow! How in the hell did this ever sell off to 75.71? Wow. Talk about a buying opportunity. Sorry I didn't see that. TF was down to 624 and now it's 668 = 44 points or $4400. But CL made an even bigger move. 75 to 82 = $7000 Missed that one. ADD: BTW when I said "a tradable rally" I...

Graphically Speaking Credit Rating http://www.elitetrader.com/vb/showthread.php?s=&threadid=225048

Moody’s Top U.S. Rating Rebuts S&P http://www.elitetrader.com/vb/showthread.php?s=&threadid=225047

Moody’s Top U.S. Rating Rebuts S&P By John Detrixhe - Aug 8, 2011 Moody’s Investors Service affirmed the U.S.’s top rating for the second time in a week, rebutting Standard & Poor’s after it stripped the world’s largest economy of its top credit status. The U.S. today retained...

Nice trade. WTG. Agree about longs overnight. I'm predicting further selling in the morning and then maybe a nice little bounce. Also the Fed is tomorrow so they may wait to hear what they have to say. Had my friend look under your mattress and we agreed to split the profits. He found...

Those are really good points P. You would have thought treasuries would tank too on the downgrade, but as you're saying they did quite well which points out the real strength in the US and what others around the world think of our financial reality as compared to other places. If people are...

But another reality of this is the Fed may be limited as to what they can effectively say. They don't want to be too bold and spook the market.

I agree markets can be "oversold" or "overbought" for some time. And there are obviously other factors driving this down other than S&P's downgrade. We just trade it. I don't trade, at least I try not to trade, based on what I think will happen next, but try to trade off of what I see now...