ES Journal Archive (2006 - 2008)

[Lawrence Chan]

Quote from wave:

4th poke under 848. Big operation in progress.

Yen is needed to make the bull case happen.

 

[BoyBrutus]

Soros says deep recession inevitable, depression possible



WASHINGTON (Reuters) - George Soros, chairman of Soros Fund Management, testified at a House Oversight and Government Reform Committee hearing on Thursday. Highlights:

* Said "a deep recession is now inevitable and the possibility of a depression cannot be ruled out."

* Said hedge funds were an integral part of the financial market bubble which now has burst.

* Said hedge funds will be "decimated" by the current financial crisis and forced to shrink their portfolios by 50-75 percent.

* Said Fed, Treasury Department and the SEC must accept responsibility to prevent market bubbles from growing too big in future.

Said impossible to prevent market bubbles from forming, but they can be kept within "tolerable bounds."

* Said financial engineering should be regulated and new products approved by regulators, and that such regulation should be a high priority of the new Obama administration.

* Said a recent IMF credit facility not large enough to stabilize markets.

 

[saliva]

Quote from Jahajee:

Well, it's come down to this:

Either they take this thing down to 833 and lower or else it goes up. Are there no more sellers?

My sources are telling me to stay out because the probability is high that we will likely end the day flat (eg. narrow-range bar).

 

[kinggyppo]

Anemic price action so far, yawn.

 

[GermanTrader]

Quote from saliva:

My sources are telling me to stay out because the probability is high that we will likely end the day flat (eg. narrow-range bar).

Same here.

Quote from saliva:

Speaking of yawn, don't you regret having gotten up bright and early? Lucky for me, I slept in today.

I get up early for more reasons than the open.

 

[saliva]

Speaking of yawn, don't you regret having gotten up bright and early? Lucky for me, I slept in today.

 

[BoyBrutus]

S1 839.25
S2 825.25

PP 862.5



hthhhtp://custom.marketwatch.com/custom/tdameritrade-com/html-story.asp?guid={83a0804c-d04b-48e3-a0e3-7eb32e8b386e}

 

[Jahajee]

Quote from saliva:

My sources are telling me to stay out because the probability is high that we will likely end the day flat (eg. narrow-range bar).

Had some big negative ticks there : -1200 but the volume was low and all they did was go down a mere 8 points. There could be more of this selling throughout the day. I still think it has to test that 833/820 area and S2 at 808 before there is any meaningful rally.

 

[saliva]

Quote from Jahajee:

Had some big negative ticks there : -1200 but the volume was low and all they did was go down a mere 8 points. There could be more of this selling throughout the day. I still think it has to test that 833/820 area and S2 at 808 before there is any meaningful rally.

Well, again, my unreliable source indicates that such a meaningful rally will not materialize before hitting the 2002 low.

 

[ammo]

L 33.5 7 pt stop,44 offer