ES Journal - 2012

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Quote from Spectre2007:

yes.. fiscal cliff .. massive capital gains tax lock selling. The easiest path is down for insti's..
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Based on your scenario, 1200's would be easily attainable then?
 
Quote from iloveoptions:

Based on your scenario, 1200's would be easily attainable then?
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1200 only if institutional stability is at risk, US institutions are protected by the FED, but Europeans aren't as organized. So most likely it will start in Europe.

For equities to hit 1200, you need a bear scenario where equities are viewed as non performers. Earnings/recession could trigger a true bear market.
 
structurally there is no job growth its all being driven by public spending. You need private credit expansion, Joe Plumber has to feel good about taking another loan out. Most everyone is pinching pennies and spending is not like what it use to be during the credit bubble.
 
Quote from Spectre2007:

structurally there is no job growth its all being driven by public spending. You need private credit expansion, Joe Plumber has to feel good about taking another loan out. Most everyone is pinching pennies and spending is not like what it use to be during the credit bubble.
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True, and Banks are not helping when they're hoarding cash and using it for more profitable means. Their mortgage lending activities have dropped significantly( probably on purpose) compared to 5 years ago, and that's making people feel insecure, even for credit worthy consumers.
 
Losing a point here and there today using tight stops have not been bothering much in comparison to adding to large losing position. So i'm bidding 1406.5 with a stop at 1403.
 
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