Black Monday? *cough**cough*

Every God damn October, people anticipate a crash. Sure it would make sense. You short, get burned just propping the market higher. You buy S & P puts and it doesn't pay off.

I do hope there are some decent dips left. We are due...Is there a quadruple top, a new correction coming? My bet is red.
 
This may be the key point. Before the Feb. and July drops, we saw very similar action as the S&P hit 1460 (Feb) and 1550-1555 (July) on multiple days. On both occasions, the consolidation was broken by a short series of large stairstep moves leading down to 1360-70.

Not sure if it will be Monday, but it could come soon...especially as nervousness over earnings (which are supposed to be lackluster this quarter) sets in. And maybe there will be a few more Netbanks to revive the sub-prime scare.


Quote from Cdntrader:

Let's see ...

SPX hits resistance 8 days in a row,


What's not to hate?:eek:


Give me a lotto ticket for Black Monday:cool:
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Lighter volume will continue.

Chop to choppy-r

Tight Range

Smart Money rolled out of the market at these levels.

If a dip comes, buying isn't a bad play.

However, get ready for a slow, choppy few months unless a Major Bank goes under. Market has had so much bad news, nothing will shake it out of the light volume, range we are heading for.

Look to Oil, Gold, and Forx for trading.
 
Yeah right, add to that the surseance of GM...

Oh how confident and happy were the GM investors every day of the negotiations... They almost forgot this were NEGOTIATIONS, so that means TWO parties involved.

With Asset Value of only 20 billion, and the following headline, the must file for surseance immediately:

DETROIT - Local union leaders on Friday endorsed a tentative agreement between General Motors Corp. and the United Auto Workers that requires GM to pay out at least $35 billion for retiree health care, establishes lower wages for thousands of new employees and offers an unprecedented number of promises for future work at U.S. plants, according to a summary of the agreement provided by the UAW.
 
Quote from atticus:

Witnessed a lot of high volume reversals. I tend to agree that next week could be ugly. Short EURJPY and ES is the trade.
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bahh, another retarded prediction goes up in smoke.

how did the es shorts work out?
 
Quote from blackjack007:

bahh, another retarded prediction goes up in smoke.

how did the es shorts work out?
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Just fine, thanks. +4.00 here at 62.00.
 
Lets try this again.. Anyone think there is going to be a Black Monday this time around? Honestly I see 12700.. or a new high.. lol.
 
Quote from atticus:

Witnessed a lot of high volume reversals. I tend to agree that next week could be ugly. Short EURJPY and ES is the trade.
More...

why does the yen appreciate during a market crash?
 
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