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Well this is a fine kettle of fish. At about 10 am, Think or Swim
"blew up". The platform has been rock steady for years and out of
the blue it simply stopped working. A call to their techs gave me a
recording saying they have issues
April 1. That's the last time we saw initial jobless claims
below 400K, and this morning the number hit and it was 391K, a drop
of over 37K. What's that all about? During all that volatility and
wicked infighting over Obama care etc, companies went on a
It's been another pretty interesting session. We've been up 117,
we've been red by 95. I suggested this am, that we'd probably see
them giddy in the am, but a bit weary in the afternoon session. So
far that's come true.
Well this is pretty amazing stuff. According to the talking heads
.. all this "up" is over some big agreement that the banks have
pulled together. Interestingly however, one of the players in the
banking sector says they never heard of it!!!
The day isn't as strong as they'd like, and instead of getting
stronger it's really having a hard time gaining traction taht will
stick. Although the last hour of the day is more important then
now.. I wanted to shoot you all a note
People are beginning to panic. I've listened to radio shows, call
in's etc. They've seen the market fall 600 points in two days and
don't understand what's happening.
Well, we know what's happening. The market wanted free money,
printed money and they didn't get
Okay folks.. Bernanke did NOT do enough. My thoughts were that the
FED would cut the interest rates on bank reserves which they
suggested they might do. But.. it appears that they have not done
that. Just doing the stupid twist is simply not enough. Granted
Before we get any further, I want to address the USPR for a
moment. I've gotten several emails bordering on panic that it's now
listed as USPRE, and it's down. Yes it is.
First a bit of history here. This is what I wrote
Well isn't this something. After bouncing around up and down all
day, they timed some news out of Greece saying they're close to a
"new deal" with the ECB etc to solve their problems. Right.
Of course I don't buy it, they
That was perfectly classic for an options expiration day. Now you
see why we sold so many half positions yesterday. After starting
out well and running up for 100 points, the market has rolled over
and at 10:40 we were red on the indexes.