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Well, well. What to do? the market is up 4 days in a row. We've
got some nice gains working. Am I to believe we make it 6? I
understand about the idea of new month/new money, but
Wow that was an interesting open to say the least. With all the
things going on around the world, one might wonder why we were up
100 DOW points by 10:15. But then again that is the way of the
financial markets. When it would make
Well well, a good solid bounce, and not one where all the gains
came in the premarket where you couldnt' get into it.
As much as I think this is nothing but a technical oversold
wonder, since we fell so hard
I had a hunch that they'd look at the action from yesterday and
figure.. "did we lose our minds?" After the bulk of the short
sellers covered, taking us from down 200 to down just 59, they had
an evening to look at
Well isn't this something? After being down 240 points, then
hovering around - 165, we were plunging at 2:56 pm. Then all of a
sudden "boom" up we went. From down 196 points to down just 88 as I
write this. So, what now?
Well I've heard all I really need to hear from Bernanke.
Steve Liesman asked him flat out if the FOMC was looking at any
additional stimulus, and Bernanke said that "we're in a different
time". In his words what he said was
Well is this something or what? Earlier this am, the Euro spiked
against the dollar, as they hope something good will come out of
Greece's vote tonight at 5 pm. So, what happens when the dollar
falls? oil and commodities go up.
This is still too much like daytrading. Although the market is
still up nicely, it's not roaring any higher it's become sort of
range bound. The SPY has run right up to 128 and hit a brick wall,
Let's recap and then I'll bare my soul a bit...
Yesterday they bounced us a bit on nothing really. Then last night
the IMF must have put a gun to Germany's head and demanded they get
on the wagon and help bail out