700B Plan Priced In Already?

[shortie]

Quote from huh:

I'm thinking if it passes then we'll rally up to around 1200. Then it'll all depend on earnings, if earnings are worse than expected then we will probably start selling off and take out the 1100 level on S&P. Otherwise I think 1100 will hold.

I think when the passing of the bill seemed like a foregone conclusion last week the market was around 1200 so I think that is the priced in level of the bailout, after that we get back to earnings.

1200 is a good reference point.

 

[traderpro]

Quote from shortie:

i think it is. we may sell off pretty hard the moment it is approved.

So far we have sold down 8 on the es at 1162.50. Nice call man! (thumbs up)

 

[stock_trad3r]

lol 8 points is nothing when were up huge yesterday

I'm sure there will be a lot of buying tommorow

this is great news

 

[brokershopping]

It is beginning to feel like a mine field. Any crazy unpredictable thing can happen which will set off giant market moves. Overall, I can't comprehend any possible way a sustained upward move could occur regardless of the outcome of the bailout. (so that is probably exactly what will happen).

 

[shortie]

Quote from stock_trad3r:

lol 8 points is nothing when were up huge yesterday

I'm sure there will be a lot of buying tommorow

this is great news

"up huge yesterday" - how convenient to forget Monday 8% plunge!

 

[shortie]

flat market tomorrow because the bailout deal does not matter?

the market is back at the monday level, when the deal was rejected, even though now the deal will most likely go through. deal or no deal - same difference it seems.