What was the reason for the huge spike up last half hour?

They want the dow up 9 straight weeks and will do anything possible to keep the up trend going into Friday afternoon......9 straight up weeks, there is literally no risk what so ever at this point, as long as Bubble ben bernanke is throwing trillions into the economy there is absolutely no need to worry. And the chances of him taking away any of these easy money policies in the next year or two is about ZERO percent.....Bubble ben bernanke knows how to keep asset bubbles growing and intact, Go Bubble ben, GO!!!!!
 
Quote from djmartin:

There's no reason but good o support and resistence.
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Shhhhh...Don't spoil the fun of the gurus and the intellectuals.
 
I heard a rumour Waddell and Reed were covering their short which they've been holding since May 6th. Rumour has it they only got a 10 lot filled because of HFT frontrunning. So that makes it 74,990 contracts to go. :p
 
Quote from atticus:

I'd bet against any corp tax rate talk. Nobody wanted to be short into the SOTU.
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I believe the reason for the initial "pop" in the Dow were some "bad" prints in IBM.

Meanwhile, it appears that the President wants to lower the Corporate Tax rate.

Looks like his new Chief of Staff Bill Daley is already rubbing off on him. :D
Daley and Jeff Immelt.
 
Obama declared: "This is our generation's Sputnik moment."

can't wait until Republicans attempt to locate Obama's Russian birth certificate :)
 
S&P FUT
1290.4 2.8 +0.22%
DOW FUT
11946.0 24.0 +0.20%
NAS FUT
2305.75 4.5 +0.20%


futures bright green again tonight, by tomorrow these should be up another .25%.....Look for an open up above 12k on the DOW, more celebrations coming for the 9th straight up week in a row....


Remember no downside risk....
 
Quote from PropTraderMTL:

My guess is that someone got a hold of Obama's speech and that he is calling for a cut in the corporate tax rate. If so it could be an interesting day tomorrow. The action all day was really negative the whole day until that point
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Well I was at least partially right hahaha... deficit neutral corporate tax cut...
 
S&P FUT
1290.7 3.1 +0.24%
DOW FUT
11948.0 26.0 +0.22%
NAS FUT
2306.5 5.25 +0.23%


every 5-10 minutes the futures are pushing higher.....

:eek:


DOW 12k tomorrow

DOW 13k by APRIL-MAY

DOW 13500 by JULY

DOW 14k by AUG

DOW 15k by OCT

DOW 16k by Thanksgiving

DOW 17k by 2nd week of DECEMBER

ADD in another santa clause rally for another 1000 dow points and the DOW could easily get to 18,000 by the end of 2011....

I think these dow predictions are wayyyyyyyyyyyy to low......
 
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