Good morning shorts. No , that burning smell

Surprised to see the market losing ground since opening, usually after a huge opening on a monday the markets tend to push higher throughout the day closing at intraday highs by the close. Market has let go a lot of steam in the last hour.


Nasdaq is being held up by the semis today, without that this market would be really red right now.




Dow 10,493.38 +30.61 +0.29%
Nasdaq 2,271.81 +29.33 +1.31%
S&P 500 1,116.98 +7.43 +0.67%
10 Yr Bond(%) 2.7570% -0.3800
Oil 77.14 +0.69 +0.90%
Gold 1,246.00 +1.50 +0.12%
 
Quote from S2007S:

Surprised to see the market losing ground since opening, usually after a huge opening on a monday the markets tend to push higher throughout the day closing at intraday highs by the close. Market has let go a lot of steam in the last hour.


Nasdaq is being held up by the semis today, without that this market would be really red right now.




Dow 10,493.38 +30.61 +0.29%
Nasdaq 2,271.81 +29.33 +1.31%
S&P 500 1,116.98 +7.43 +0.67%
10 Yr Bond(%) 2.7570% -0.3800
Oil 77.14 +0.69 +0.90%
Gold 1,246.00 +1.50 +0.12%
More...

If the indices close down or even near Friday's closing prices, today could be a big inflection point.

- Failure to decisively break recent highs & 200-day MAs

- Terribly low volume during recent rally

- Extremely overbought on a daily basis

- Big gaps to fill just above the last low point
 
“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”

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LOL ...yea ok Buffett. Try and get your BOY OBAMA to keep the Congress....

I take what this guy says with a super grain of salt.

WE ARE IN A RANGE UNTIL THE ELECTIONS!
 
We got rejected at resistance.

ji13.jpg


The day's not done, though.
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The Basel Committee on Banking Supervision said yesterday it will require lenders to have common equity equal to at least 7 percent of assets, up from 2 percent currently, including a 2.5 percent buffer to withstand future shocks. Under the so- called Basel III rules, banks that fail to meet the buffer would be unable to pay dividends, though not forced to raise cash.
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On the phone early the Am with China and EU. Both are predicting strong GDP numbers going forward. Also, the Basel Committee Rules make a hellofa lota sense.

The US will adopt these rules....

This should keep the assclowns on Wallstreet thinking before they decide to take massive risk with out hedging.

IMHO we are still going to Lag the the Asian Tigers and EU in Job Growth, and turnaround time.

In fact, the US could have a decade of close to Zero Job growth while the output in Goods and services rise slowly.
 
Quote from EMRGLOBAL:


On the phone early the Am with China and EU. Both are predicting strong GDP numbers going forward. Also, the Basel Committee Rules make a hellofa lota sense.

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More...

Quite the life you live! Tell the EU they owe me $100B next time you ring them. :D

Basel will do nothing to avert another financial crisis, though. Just a feel-good measure. I cringe whenever I hear "global regulations" and hope this isn't fraught with hidden regs or unintended consequences...
 
I was short and I lost 50 bucks. On my last winning trade I made over 2,500. So no, I'm not getting burned. Only losing traders try to pick market direction.
 
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