I guess u guys are looking into too much myth about the market created by NM....
Futures down 14....if u look into the Fed's statement there was a heighten alert on inflation... look at what Buffet said not Bernanke ......It will take a miracle to turn this buffalo around......
BTW, just wonder what NM would have flared in the past few weeks....it separates the men from the boys.....
Gleno: It could be that yesterday’s “rally” was the entire ascending slope of the short 8 d cycle on the 130 min chart. That would mean that the left-translation is extreme - bad sign for the Qs. If true, the down slope of the 5 wks cycle can lead the Qs down, into a trough placed around 6/30. A TOM+ might happen only very late and there might be only “window breaking” instead of window dressing. Is anybody ready to initiate that violent “bear market rally” that some people are still expecting? Selling on close has been a predominant “motif” of the latest days and indicates that every attempt to rally encounters a professional wave of selling…
Gleno, LOL, never doubt Scam... Like you said he's one smart dude. Just kidding of course. I saw a bit of divergence on the 5min and 15min charts btw that is why I sneaked in at the close and bought some QIDs.
Gleno Well I was right about the down opening, but sure didn't think it would be anything like this. Because of the economy gambling stocks are week so I got some puts on WYNN & LVS this morning, they are down, but not as much as I would think they would be with this kind of sell off so just got rid of them a little while ago. Made a little, but really was bad decision on what to buy. Dan
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