Replies to post #61589 on SPDR S&P 500 (SPY)

[RCKS]

two
The market seems to need a catalyst and I can not see a clear one in sight. Maybe the pricing of LEH's stuff will do it but I think there is a better chance we go lower on that noise.
We need a washout type of selling to put a floor under us. 960 was bought by some because they believe in it as support level, well IMO this market has no support until they believe the systemic risk is gone.

[learningboutinv]

2xer, good to hear from you.

BTW - this is an interesting Credit Market Indicator chart from Pcyhuang on the investor village board. If credit squeeze/lack of credit is an issue it is good to see that may be the feds are starting to be able to break the gridlock.


http://investorvillage.com/smbd.asp?mb=6863&mn=3850&pt=msg&mid=5829570

[grasshoppah]

Two, Have wondered that myself. They,ve been pullin money out of the tomo for this big ride down, thought maybe they were using it for other things? God knows they need a lot of cash these days. First injection was yesterday with the rate cuts, maybe they want to put a floor in here?