Pull up a 15-minute chart and you would see that we're in a heavily congestion area stretching back to yesterday. If we break out of this zone, you can definitely count on the short-covering rally ya always wanted.
Bonds dropping, Yen dropping, maybe a little rally time.
FYI - EVERYONE email your senators and congressmen on HR 1068 - the transaction tax. We're all dead if that goes through. If you would like a simple form letter to mail them, PM me. I will gladly hook you up with my own.
yen is dropping because of the japanese fiscal year end repatriation trade.. hence the decoupling whioch i mentioned yesterday... market is positioning for this repatriation but if it doesn't take place, an allmighty yen squeeze will be next..
Does that guy AMTSW4 trade in this thread? Ive never seen anything like it. He just always KNOWS where the market is headed, lol. Amazing. How on earth does he do it?
He still short some from what i gather, so more downside to go...
