Joe...
Yep -- very busy indeed.
He has been coming in before any selling can gain momentum and recently has been coming in even more quickly as some selling volume has started to come in.
I think this week is absolutely critical for Greenspan. If he loses it here to bad earnings, his gambit becomes very difficult, if not impossible. On the other hand, if he is successful in holding the market relatively steady, he is then in the driver's seat. From all indications today, I think he sees it the same way and is going all out to get a good start on the week.
I expect him to continue to go all out this week, and if successful I look for him to drive the markets higher during the dead period that follows earnings. Wednesday is the key - if he can beat back whatever selling develops from the earnings today and tomorrow, he will probably be fine.
mlsoft
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