nice close

[Spectre2007]

The working group wouldn't intervene. Its in the best interest that the bulls get rung out and pessimism takes a foot hold for a month or two.

The reason is, it will give room for the FED to move.

The dollar is strengthening in the present condition, carry trade being unwound. Look at most of the currency pairs, they gave away a good percentage of their gains.

The bond market loves this too, bond yields dropping, makes it easier for the government to finance the War.

So, the working group would intervene only next year, if it did come to it. A crash they would actually prefer, then a sharp rally next year just in time for elections.

 

[jj90]

It was getting scary around the 3pm lows before the rally. I don't use a million indicators, but all major indicies except DJX were at their last support lows. If that couldn't hold, I don't see a bottom, I see a bloodbath. The lows held nicely though, and I'm not one to stoke market conspiracies, but I agree with Pabst on this, given where the market traded to and how it did so.

 

[opm8]

Quote from Cutten:

I agree it was an unusual and surprising close. Fear is widespread, volatility bid, all the classic signs of panic. The Nikkei was down almost 400 points yet the US holds firm all day then rallies strong in the last hour or so.

Cutten,

I think you're somewhat wrong in your basic assessment. What made this up move unusual and surprising in your eyes? The past few days have seen a raging move going into the close and today was no different, as I see it.

I was trying to get long all day and had my ass handed to me practically on every trade no matter where my stop was. Until the last trade, that is, that almost wiped out all my losses for the day.

I was right and still lost money just like Jesse Livermore. LOL

opm8

 

[opm8]

Quote from Pa(b)st Prime:

The sellers down to the lows were longs puking. The sellers on the way up were shorts thinking "wow! I get to sell 51's after they were 42 just a minute ago. What a do!!!" The buyers? New money in individual issues helping fuel buy programs and short covering in futs off of obvious technical support.

Good to see you have market moves so clearly laid out, dude. How can you possibly lose with such perfect hindsight? I love it when someone knows exactly why something happened. Always after the fact, of course.

opm8

 

[HolyGrail]

That close saved my butt. I traded so poorly today, and I deserved to lose money, but managed to eek out a gain after commissions.

 

[dont]

Guy on bloomberg was saying that the late rally was due to someone having to close out a trade on the S&P futures.


Sigh I suppose its the typical market spoofing?

 

[Cocaine]

You and "NoddyBoy" should start a hedge fund. With your extensive knowledge of CNBC BS and Noddy's affinity for creating a new poll everyday guessing where the market will go the next day, you guys could really kick some butt!!

Quote from S2007S:

very unexpected after all these crazy rumors!!!!


I can tell you right now ahead of tomorrows opening, Futures will be up about .5% tomorrow morning. They will open this market about 50-100 points higher on the open, where it goes from there is anyones guess. Is this the end of the "correction", I dont think so, I think its time to take a little off the table after each rally.

 

[Pa(b)st Prime]

Quote from opm8:

Good to see you have market moves so clearly laid out, dude. How can you possibly lose with such perfect hindsight? I love it when someone knows exactly why something happened. Always after the fact, of course.

opm8

What did ES do last night after it traded down hard to 1442? Have you seen many overnight spike lows not be crucial support if tested the next day? I suggest you backtest it.

 

[opm8]

Quote from Pa(b)st Prime:

What did ES do last night after it traded down hard to 1442? Have you seen many overnight spike lows not be crucial support if tested the next day? I suggest you backtest it.

Well, I don't think overnight highs/lows have any more or less validity than anything else. You could pick any arbitrary level and claim it has superstitious powers. Whatever, I don't trade that way but if it works for you, then keep on truckin'.

opm8

 

[frank grimes]

s2007s: it is quite eveident that you have 0$ at risk. You come on here and cut and paste. FANTASTIC! now I don't have to pay attention to ANYTHING ANYMORE! do the people a favor here.......leave!!!!