ES Journal Archive (2006 - 2008)

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1172.75 ES could be the high today

Even the spike up after Buffet GE con job was released
could not make a new high.

Senate vote YES on bailout tonight is already in the markets.

Next, is the House on Friday. So, I think ES trades between 1150 to 1175 until Friday (which woudl be amazing considering the huge ATR intra and daily); then look for a huge up move into
Friday's close.

And, Monday? Possibly another Black Monday.
 
Quote from Jahajee:

Just wondering - how DEEP is Buffet's pocket?

Can he continue to drop a 10 billion here, a 5 billion there... and, when he can't ?
More...

How deep - unlimited.

His name alone can land him partnership investment with country funds at trillion dollar level.
 
To answer a couple questions posed previously:
Buffet says he has about another 30B cash left to put to work.
The Senate passing the current bill should be priced in, but the House cannot vote until Friday at the earliest.

If things don’t get better, you can assume that Europe will indeed introduce their own bailout package, and a coordinated interest rate cut will be put on the table. This will continue to be a news (and rumor) driven market for the near future.

Currently the ES options are pricing in a range of 1080 to 1250 until October 17th. That is about double the range we have normally seen so far this year.
 
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