Open Question
Granted, no one really knows what will happen in the next 6-7 hours, but Asia
isn't horribly tanking and futures are indicated up for the morning.
If no horrid news comes out, we might be looking at a bit of a snap-back rally
at the open.
Granted, there will be more than a few selling into it if we are positive, but
it would be nice to be net positive for a little while for a change.
I'll admit it, I don't like the thinking that 300+ down on the Dow wasn't "bad
enough" - I think the markets have taken enough lumps as it is - S&P500 & Naz100
are over 30% off their 52 week highs and the Dow is almost there, too. I think
that's enough to count as capitulation, but I'm not big enough to be a market
maker... ;)
Here's to more clarity in the morning that brings us some upside.
Your thoughts on the open? (No fair answering 30 seconds beforehand while
watching the futures, LOL.)
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this was just a test,i repeat, just a test.lol trying to see if they can grease
the way for a 1000-1200 pt. dive in one day..chris
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No capitulation yet. Not near enough volume for one. I was hoping we'd
"flush out" yesterday but the reversal botched that up. I've closed
out most of my long positions and try not to leave anything on the table
overnight. We're going to go lower, and it's going to stay volatile for awhile.
One day I'll start "investing" again, but probably not until sometime
next year.
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sometimes stockpickrs act as if they're in an episode of The Flintstones.
Yesterday's cacophony of calls for a return to the Stone Age had me looking for
shares in Mr Slate's Quarry Cave Construction Company
Answered by Peter near Matanzas Inlet
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bunny, don't know if you watched cnbc last night, but they had some good ideas
that might be used. one of the best is a cds clearing house thatr will provident
a 3rd party and transparency to that whole market. traders seem to think that
this is where the system is stuck since its guessed that theres 60 trillion
wrapped up in it. this morning the cme is in talks with fed about setting up
that type of market. head of cme was on last night and was very positive about
this avenue. i see market sentiment as positive this morning. i think we're
close to pricing in all the fears mr. market thinks are out there. we're
allready up 50 before open so i can't guess on open. how bout, i think we close
up for the day. mike
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May get a brief rally today and tomorrow. Then look for further declines,
possibly significant.
Opportunity to sell into strength any equities you are over exposed in.
I bought the UYG (ETF long financials) yesterday. Will sell on rally and look to
buy SKF (ETF, short financials) if it falls under 100.
Market is much too volatile to hold equities more than a few days.
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posted yesterday to someone q, that i thought we would get a pop but finish
down, just my opinion,,
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