Replies to post #133956 on ajtj99's Market Pulse

[ajtj99]

From what I've read Rubin or the head of the NY Fed has the inside track as Treasury Secretary, Powell is being considered for Education, Gates is going to be asked to stay on at Defense until maybe Sam Nunn can take over, and some other cabinet positions are being nailed down as well.

I don't think Corzine's going to make the cut.

The markets were very overbought at the highs this week on the NYMO, so a 3-5 day pullback should not be surprising. Often when we get these types of blasts out of a low we get a .618 re-trace, which would be take us to around 900 SPX.

The op-ex window doesn't open for another week, and the way things were setting up it was logical they'd need to take this down. Too many calls were being bought up the past week at in the money and at the money strikes. They dwarfed the puts at the same strikes.

I hope they don't do another stimulus package. If they do, it should be an infrastructure package, which would actually contribute to the economy for years to come. The electrical grid needs updating, and highways and bridges are in dire need of repair.