YOU CAN SEE from the IMPACT stream above, the MKT ran out of gas about noonconfirming the EKG
Jay
When you have a 70% accuracy record, days like today are not by chanceJay
Revised by adding back the earlier data stream that was left out last nightthats the value of waiting till 8:30am to publish the EKG
It offers a clearer pic of the opening
Jay
IM NOt sure what to make of this in relation to stock prices, but lets follow it alongIt does look like a final burst might make a high at 10am = 39 hour cycle
Jay
IF this works out then we can readily see that yesterday's Finish is today's startJay
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http://online.wsj.com/article/SB10001424052748704156304576003441518282986.html?mod=WSJ_hp_LEFTWhatsNewsCollection
... so the RALLY goes on .. and on ... and on ... and on ...
Hi Jay
Going by what I am looking at the present time, any negativity which I had was for Monday.
What was witnessed was a serious accumilation of positions.
For what its worth, word has it there is a monster short stop program sitting at the 1228 (350-400k)at the present time, if that is taken out, then there is no holding back this fluff rally.
There is no substance to the rally but it does require respect as its gaining traction.
A 1230 close will point to 1263 by week end or Monday 13th.
Just my 5 cents worth.
Just a quick question are you a systems developer, and is this EKG program your system?
Disclosure.. I am long
Cheers
if the day closes with S&P below 1225 then all bets are off.
It amazes me how people memory is very short ... everyone I spoke to friends/family/strangers/etc are all bullish and dumping their 401K/IRA/etc into equities. I stay catution with STOP on my long positions ... increase the STOP as the price moves up.
VXX, FAZ, BGZ (down 50% DAMN!)
SLW, SLV, GRS, RIG, CAT (up 38%)
ANY time Bernanke said he was certain of something during his tenure as Fed Chairman, the exact OPPOSITE has come true.
-In 2005, he claimed there wasn't a housing bubble
-In 2006, he called the housing bust a "correction that would end soon
-In 2007, he said the subprime disaster was "contained"
-In 2008, he failed to see the BIGGEST crisis in 80 years coming
In plain terms, Bernanke has been 100% WRONG about EVERY major
forecast he's made. So when I saw him say that he knew he could
contain inflation with 100% certainty, I knew inflation was coming in a BIG way.
The market has been "saggy" all day, sort of like if they were going to "sell the news" but they can't seem to get around the fact that Bernanke's POMO program gave Wall Street some 6.81 billion today buying Treasuries. So we're "up" but it's a strange sort of a day.
The day is certainly not that strong, and the materials guys are seeing profit taking. I'm not shy about taking profits, so I'll watch things closely.
closing near highs yet again today the way its working out here, been in a channel since midday,below 1230 might change my mind though.
and suddenly as if from nowhere,the sellers arrive
after8 - POMO should end I believe this week. Someone confirm?
and then expiry to look forward to abdullah,it doesnt get any easier.
lol
so we ended the day with the S&P below the 1225. Now the BEARS need to be awaken.
What a day.
Full of adventure and major developements.
The bond vigilanties have decided to wake up after years of hybernation..
OH BEN WHAT HAVE YOU DONE..
That 60 minute interview will be costly.
For the bears there might be life.
If bond yields keep rising there is no way this market is going higher and I am going to have to reconsider my trade.
It could also be that the market is some what long and with tomorrow liquidity roll over, booking profits might be the norm.
There is so much to digest at present,one thing is for sure long bonds under 120 and I feel this market can dive to 1140 if not 1100.
Today was a huge rejection of 1234, game might be over for the bulls.
not sure just my 5 cents worth.
Thanks FT
very clear assessment
Jay
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