Quote from bigsnack:
A gift for sure. Actually the structure of this rip would show a pullback to that level to be a bit too deep. If we get down there I would need a whole new round of confirmation that we were going to resume the bullish condition.

Quote from Laissez Faire:
Maybe 1210,50 was the gift?
1220 and beyond by end of day? If so, still not too late to capture a piece of it if one can get a clean entry.



Quote from samus:
Currently in cash and on the sidelines, but I gotta say, this is one of the weirdest markets I've seen in a while. I'll trade regardless if it goes up or down, I personally don't care. I'm not really a position trader, but if I were, I would hedge toward the downside.. but then having said that, I would probably get burned. This thing doesn't wanna die for whatever reason. Could be just noise, but I don't see how it goes much higher from here. I don't see the news thats keeping this thing treading up here, but what do I know... My two cents.
Quote from ajcrshr:
Some, like David Rosenberg, think the Fed will come out with a big surprise tomorrow. Everyone expects operation twist which would not really be very impactful. If they decide to surprise with something big, they would have been discussing it with the primary dealers. Some may be buying in anticipation of a surprise which would lead to a sell off if only OT was announced Wed. There is a chance, however, the PD's know something concrete about a surprise we don't.
http://www.newyorkfed.org/markets/pridealers_current.html
50 day ma on cash is 1223,can't find the article but an ex fed that's a colleague of bernanke and now a prof at princeton thinks a drop in int to negative will get us out of this jam and be akin to a tax on the banks for holding cash and possibly get them to start lending again and thru some magical accounting practices lower our debtQuote from ajcrshr:
Some, like David Rosenberg, think the Fed will come out with a big surprise tomorrow. Everyone expects operation twist which would not really be very impactful. If they decide to surprise with something big, they would have been discussing it with the primary dealers. Some may be buying in anticipation of a surprise which would lead to a sell off if only OT was announced Wed. There is a chance, however, the PD's know something concrete about a surprise we don't.
http://www.newyorkfed.org/markets/pridealers_current.html