Wednesday, April 29, 2009

GDP Falls 6.1%, Much Steeper Decline Than Expected

Copied and pasted headline from CNBC.

Current value of futures:
E-mini S&P 500 Jun 2009 +8.75 1.03%

Bank stress result madness ...

Blow off top or new bull market? You tell me !!!!

Fed meeting this afternoon. Its going to be a wild ride today.

EDIT: 3 posts this morning so don't miss the other 2

17 comments:

  1. I'm guessing we're all sitting tight waiting for the fed annoucement?

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  2. yeap. Not doing anything. I am traveling Friday all day and have to run quite a few errands tomorrow. So I may not trade at all until next week. However if we do get a big rally here I will short into it regardless. Anything above 890 and I will add shorts. Do not think we will get there though to be quite honest.

    Me saying 890 does not mean I have a bullish expectation, just an observation of market tops. Even that could last for a few days and coil away.

    Take a look at the last 2 weeks, just like we did at 800 the last time in feb we are building up a lot of tension here. Once it breaks its like a big rubber band that snaps violently.

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  3. dow broke 8200 ... lets see whats going to happen from here. Lots of stops being hit at the moment so do not expect this to be over quite yet.

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  4. Thanks for the update. It's greatly appreciated.

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  5. 5 more minutes. This is going to be quite dramatic. Either way, up or down.

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  6. do not think its done yet. I think we have one last push left here.

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  7. Yeah, either 890 or wait it out for a drop below 872 to start shorting slowly there. 880 resistance is VERY strong. If we drop below 872 I will start to short there. Low point after announcement is 874, so thats my short target on either side.

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  8. here we go 872 coming soon add more short?

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  9. will hedge if it rallies above 876.

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  10. are you holding on to the shorts overnight?

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