You have a enormous amount of 117 spy put sellers who think differently
ES Journal Archive (2009 - 2010)
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You have a enormous amount of 117 spy put sellers who think differently
You see it making that lower low and thats what I believe they call that bear flag. The ES is continually feeling lower until there are no more bids and price does a slide.
When that guy came out this morning talking about Greece, I knew right then he was a liar. The titanic is sinking and he is coming out to try to stop the panic in the crowd. Right now, there are bank runs going on in Greece. The Titanic's Captain can try to jawbone things up, but its not going to solve the issue. Greece has too much debt, its bankrupt and there is nothing that can be done....
His jawbone saved the market from the waterfall, but it will only last so long. Greece is the next Lehman and when you have a Lehman then you have a Bear Stearns. There will be other countries that will surely follow...maybe even a few states in the United States or large municpalities going Chapter 7.
It might now stop at 1100, but maybe 900. Remember 1998 where it took 10 months to ramp from 900 to 1100 and then one month to sell back down to 900? Guess what? 2010 is 1998 and its repeating all over again with these small nations going wild.
ECB President Jean Claude Trichet Press Conference: SAYS TAKEN ALL THE INFORMATION HE HAS, DEFAULT IS NOT AN ISSUE FOR GREECENo changes will be made to the current 'haircut' schedule... says message to banks is for them 'to do their job', meaning to make loans to the comunity... Asked about CDS for Greece: Journalist notes that CDS spread for Greece is higher than Iceland right now; says never commented on spreads or evolution of the market; reiterates measures taken by Greece and the statement from the heads of State are appropriate; notes Greece represents 2.5% of the euro area; says taken all the information he has default is not a problem for Greece.
When that guy came out this morning talking about Greece, I knew right then he was a liar. The titanic is sinking and he is coming out to try to stop the panic in the crowd. Right now, there are bank runs going on in Greece. The Titanic's Captain can try to jawbone things up, but its not going to solve the issue. Greece has too much debt, its bankrupt and there is nothing that can be done....
His jawbone saved the market from the waterfall, but it will only last so long. Greece is the next Lehman and when you have a Lehman then you have a Bear Stearns. There will be other countries that will surely follow...maybe even a few states in the United States or large municpalities going Chapter 7.
It might now stop at 1100, but maybe 900. Remember 1998 where it took 10 months to ramp from 900 to 1100 and then one month to sell back down to 900? Guess what? 2010 is 1998 and its repeating all over again with these small nations going wild.
ECB President Jean Claude Trichet Press Conference: SAYS TAKEN ALL THE INFORMATION HE HAS, DEFAULT IS NOT AN ISSUE FOR GREECENo changes will be made to the current 'haircut' schedule... says message to banks is for them 'to do their job', meaning to make loans to the comunity... Asked about CDS for Greece: Journalist notes that CDS spread for Greece is higher than Iceland right now; says never commented on spreads or evolution of the market; reiterates measures taken by Greece and the statement from the heads of State are appropriate; notes Greece represents 2.5% of the euro area; says taken all the information he has default is not a problem for Greece.
how about we pullback from 75 -76 around 10:30
retrace 50% to about 72.5 - 73.5
And then DEMTDAYBOYZ take it back to 79 for the gap fill
retrace 50% to about 72.5 - 73.5
And then DEMTDAYBOYZ take it back to 79 for the gap fill
What were the highs in SPX on march 23,24,26,29 and 31
Where are we right now ?
Greece is kind of smoke and mirros for the PPT (whatever you want to call "them") I think it is a taste of what is to come "globally" so USA leaders can say "wow citizens, we did all we could but look at tiny Greece and huge ????? who just went defunct or ????? causing chaos.... it wasn't US, sorry, we're here to help... what a bummer... we have a new plan now stick with it for another 2 years or so... we promise it'll be fine again... yada, yada, yada..." Greece will NOT get US pols off the hook with the voters. Something bigger, maybe. We'll see what is orchestrated starting early summer.
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