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Post by theMIST on Apr 3, 2012 13:48:48 GMT -5
No QE = rough summer for markets.
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Post by huh? on Apr 3, 2012 13:49:10 GMT -5
A $5.00 range in the S&P now defines the rest of the week - above 1409.50 bullish; below 1404.50 bearish.
JMHO
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Post by jack on Apr 3, 2012 13:50:36 GMT -5
so this sell off is because shit is going pretty good. Dumb asses on wall street watch how long it takes them to get bullish Haven't they been climbing a wall of worry for months now? Doesn't it sorta stand to reason they would sell "good news"? Bottom line is, stocks been bought up too long without a much-needed correction. Market is now looking for the excuse it needs to provide it. Reverse psychology is as good a reason as any. Might not come today or this week, but it's close. Fins already forecasting it. JPM's action today a bellweather on the fins' direction....agree.
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Post by theMIST on Apr 3, 2012 13:53:03 GMT -5
I think we take one more run at the highs this month. If we put in a lower high, then we get a correction just in time for the summer months.
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Post by Ralf on Apr 3, 2012 13:53:45 GMT -5
Likely one more attempt at 1420 before the drop, but if it fails, 1390's likely, with 1370 possible. But I WON"T start shorting it yet.
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Post by jack on Apr 3, 2012 13:54:07 GMT -5
No QE = rough summer for markets. Some would say spring, summer and fall....hope not tho.
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Post by ask2lern on Apr 3, 2012 13:54:20 GMT -5
So where is all the money going? ?....................bonds down.......metals down.........stocks down............either under the mattress or AAPL I guess........................
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Post by dino on Apr 3, 2012 13:56:47 GMT -5
Just posted this in the Futures thread FWIW... Just tapped the most recent "big buy spot" on ES (white line). This is the parrellel trend line off the big channel of the December lows...
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Post by ask2lern on Apr 3, 2012 14:05:04 GMT -5
Well if we dont get a EOD squeeze I would expect ADP in the AM will fix or break all..................got to go.....................
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Post by Clinton SPX on Apr 3, 2012 14:06:35 GMT -5
Im staying bullish until people start losing their jobs again Even come May? Wow! dont talk crazy up until May
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Post by jack on Apr 3, 2012 14:09:11 GMT -5
Even come May? Wow! dont talk crazy up until May Phew! Ya had me worried there!
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Post by theMIST on Apr 3, 2012 14:14:06 GMT -5
SOXL, RIFIN (FAS), RUT (TNA) putting in possible H&S topping patterns. Still early to call and need confirmation. Watching hourlies.
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Post by huh? on Apr 3, 2012 14:37:40 GMT -5
I'd like to see a close above sp1415 in order to sleep better.
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Post by dino on Apr 3, 2012 14:39:33 GMT -5
looks to me bulls need a move above spy 141.12 to get some lift...
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Post by Ralf on Apr 3, 2012 14:41:26 GMT -5
looks to me bulls need a move above spy 141.12 to get some lift... Bears have a sturdy "Red Rover" line set up at SPY 141.
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Post by dino on Apr 3, 2012 14:46:56 GMT -5
looks to me bulls need a move above spy 141.12 to get some lift... Bears have a sturdy "Red Rover" line set up at SPY 141. LOL... if I had a dollar for every time I had my bear suit on and called "red rover"....
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Post by dino on Apr 3, 2012 14:51:38 GMT -5
ok mr. hand, let's see it...
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Post by Ralf on Apr 3, 2012 14:51:56 GMT -5
Bears have a sturdy "Red Rover" line set up at SPY 141. LOL... if I had a dollar for every time I had my bear suit on and called "red rover".... Yup, there goes. Just gotta hold ten......more......minutes.....
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Post by Clinton SPX on Apr 3, 2012 14:54:38 GMT -5
Hey where'd the end of the world sell off go? It all but disappeared right at 3PM never saw that coming
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Post by Clinton SPX on Apr 3, 2012 14:55:19 GMT -5
QQQ about to go green
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Post by jack on Apr 3, 2012 14:59:03 GMT -5
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Post by jack on Apr 3, 2012 15:01:01 GMT -5
Hey where'd the end of the world sell off go? It all but disappeared right at 3PM never saw that coming SPY vol today at 139M; when it gets larger will the hand have as much clout? (Rhetorical question answer is "No.")
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