Bulls too stupid to take out 850.00 
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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You speaking ES or cash ?
My target was 860 cash and we already hit it cash equiv..
I think the lows have been put in, for this leg down, and markets will rally for at least a week and possibly longer until the next CIT. Some have put this at February 9th.
Why bullish now? Financials (UYG ultra financials) hit a new low yesterday - lower than Nov. Citi and BAC earnings are out, as is Intel. So, there will not be any bad earnings news for at least a month - possible early earnings warnings can come by end of February.
Big 3 auto situation is on the backburner for now - they have enough cash for a few months. Then there is all this OBAMA hype and A trillion $ stimulus which will result in optimism, hope etc.
However, after two or three weeks, markets will resume another leg down after people realize nothing much has changed and situation is still bad.
ES can rally to about 960 or higher during next 2 to 3 weeks.
Why bullish now? Financials (UYG ultra financials) hit a new low yesterday - lower than Nov. Citi and BAC earnings are out, as is Intel. So, there will not be any bad earnings news for at least a month - possible early earnings warnings can come by end of February.
Big 3 auto situation is on the backburner for now - they have enough cash for a few months. Then there is all this OBAMA hype and A trillion $ stimulus which will result in optimism, hope etc.
However, after two or three weeks, markets will resume another leg down after people realize nothing much has changed and situation is still bad.
ES can rally to about 960 or higher during next 2 to 3 weeks.
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