federal reserves....
Welcome back, by the way.
I think that unless they are willing to pump truly massive amounts into the markets here that they have reached the point of diminishing returns and the rally is about over. I even gave a "to the hills" call today at NAZ 1352 because I was watching the PPT stocks eat up successive ramp bids without going up - AMAT ate up entirely 3 30,000 to 40,000 share ramp bids in rapid succession without going up at all - and I felt that the selling was finally overcoming all they were able to throw at it. The market slid from there down to the afternoon lows, but then the PPT stocks lit up like a Las Vegas casino and they were able to put a closing ramp on that was impressive - especially with the really fine paint job on a number of stocks at the bell.
I am short but will cover if they show strength again tomorrow - my best guess though is that they will have to let it come down.
mlsoft
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