Kudos to MMs

It is so far removed from reality. Super funny the guy is obviously parroting someone else even so still almost 100 percent wrong all the time.
 
"FV" ~ 800. Unless you have been under a rock this weekend, Swine flu is wrecking havoc on confidence.

Oil futures getting spanked pre-market, almost certainly on the same news.

Once the swine flu thing passes, markets probably go back to sideways action.
 
Can this person be any more wrong and confused ? A total nooob who has a spoon stuck up his nose cause he read book or work in fund mairoom
 
"FV" has collapsed. I estimate it at 770. I am not convinced this is due just to swine flu, and you should not be swayed in that direction either. That gold futures are not representing fear, and that bonds prices are only mildly ticking higher is a clue that this sell off is structural. How does that help? When swine flu scare passes, you will be better informed whether to buy the market or stay bearish.

Oil futures hanging in there far better than equities.

Continuation of note auction. Today is the five year note.
 
Hearing that there may be a new Central Bank gold pact. Supposedly this may lead to changes to increase the amount of gold that can be sold. The rumor is that the gold selling this early morning is due to liquidation of long positions. If you are long gold, beware.

FWIW
 
"FV" ~830.

Fed report that at least six banks need more money seems to have done little to SIFs, pre-market anyway. Maybe there is no one left to sell. Swine flu fears appear to have eased as well, although SIFs sold off mildly when the news of a child in Texas confirmed as first US death.

Oil futures trading above $50 again, but like the stock market it is stuck in a range.

Seven year note auction rounds out recent note auctions, and participation in it [or lack thereof] is perhaps the most important of the last three. I would stay alert from about 12:00 CT today [after note auction ends], as we may make the first move to break out of this range one way or the other. To the downside, you would take note of a close below 825, and to the upside above 872. Obviously, 872 is much higher delta [as of the time of this writing], but it is worth staying balanced in the face of a "FV" of only 830.
 
SPX breaks 872. Next resistance is 882.xx with minor resistance at 875. As stated above best to stay balanced for the afternoon.
 
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