Predictions for Monday? (May 10th)

[zxd]

The last thread for today's predictions was popular. Thank you for sharing your insights with us. What do you think we'll be seeing this upcoming Monday after today's further sell-off?

Continued selling? Black Monday? Or Institutional Buy Monday? Your take?

 

[Ivanovich]

Depends if the 600B euro bailout comes from the ECB to it's Euro Area banks, like it is said might happen. If that happens, buy buy buy.

If nothing happens over the weekend, I think we go flat.

 

[kashirin]

who is gonna buy?

retail public who lost billions on stops?

or money on sidelines?

or maybe those pumpers for who volume doesn't matter and who bought 119 dip?

 

[NoDoji]

The depth of the dip it took to find buyers yesterday changed the game IMHO. Before it was buy the dip and buyers came in strong with very little backwash.

Yesterday wasn't a dip; it was nasty price action.

No one wants to be the greater fool now. If anything, that 1060 level will have a crying need to be revisited if price stalls in a range for too long. And, really, what will drive price back near previous levels? The job news is on the table and no rally; Europe is in disarray with no easy way out; earnings season is over; "Sell in May and Go Away" is the song of the season.

I always have a short bias, but now more than ever I'd be looking to sell the rallies if they don't break out.

 

[Options_Noob]

Quote from Ivanovich:

Depends if the 600B euro bailout comes from the ECB to it's Euro Area banks, like it is said might happen. If that happens, buy buy buy.

If nothing happens over the weekend, I think we go flat.

I haven't heard anything about a 600 billion Euro bailout. Where did you hear this?

 

[Illum]

Everyone is short, even if news isnt great it could rip up for a day or too, just cause the market is an ahole like that.

 

[rcaldwell]

Quote from NoDoji:

The depth of the dip it took to find buyers yesterday changed the game IMHO. Before it was buy the dip and buyers came in strong with very little backwash.

Yesterday wasn't a dip; it was nasty price action.

No one wants to be the greater fool now. If anything, that 1060 level will have a crying need to be revisited if price stalls in a range for too long. And, really, what will drive price back near previous levels? The job news is on the table and no rally; Europe is in disarray with no easy way out; earnings season is over; "Sell in May and Go Away" is the song of the season.

I always have a short bias, but now more than ever I'd be looking to sell the rallies if they don't break out.

Canary in the coal mine. Wall Street wants in your back pocket (or purse).

 

[masterm1ne]

I know some P/C ratios are put biased... but daaaaaamn... anyone looking at options these days? How can we go up any more with everyone betting the derivatives going down?

 

[335ifurby]

All this means is that it will again be a wild market, down 200 at the start, up 200 and back and forth just like friday, vix is still at 40 and looks like its going higher, volatility = make money

 

[Lojanica]

Who cares. The prediction was to be made when volatility was low. Now just ride the aftershocks