I’ve heard the word “hope” about a hundred times in the media coverage of the markets last night You know what they say about “hope” as an investment philosophy.
After dropping double digit percentages THIS WEEK, is it smart to go home long, short or flat for the weekend? It is too late to short unless there is a bone-fide Black Monday crash.
Going long is certainly risky as the desire/need to “get liquid” will shred any support in any chart. And being flat is just that.
As you can see in my previous blog entry, big DOW support is at 11200, then 10900. I am willing to commit capital to those levels if reached. Also I have a feeling that there will be some bullshit rescue plan out of ECB and Europe. But more importantly, Uncle Ben speaks next Tuesday.
My guess is that our good Uncle won’t be market unfriendly after a quick thousand point drop.
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Broken / manipulated market, 30+ S&P points added in 40 minutes.
Let’s see who bought calls for nothing expiring today,
Scott- thank you for taking the time to post here today.
Bullshit plan out of Europe. Check.
Robots happy for 5 minutes. Check.
Robots long into the weekend. Nope. I think they will sell the close to get flat.
Big interest was betting huge coin on sp 1200 since March I believe…I taught will never happen…
Might put some capital to work on Tuesday before the Uncle Ben speaks,this S&P downgrade looks to be QE3 in disguise ,dollar falls,everyone out of bonds and treasuries and into stocks…BRILLIANT