Thursday, January 7, 2010
From 4:00 PM to 8:29 AM
I would not want to be short during that period, from close to right ahead of the non farm payrolls tomorrow. In fact, I would be looking to get long to try and capture a few points forecasting a slow upward drift leading up to the NFP in the overnight session. The market is showing underlying strength, and refuses to stay down. I know the put call ratios are ridiculously low and the bears are almost nowhere to be found. That will come to matter eventually. In a bull market, the market goes up steadily and grinds higher, with sharp, brief selloffs. We are close to one of those sharp brief selloffs. I expect it to happen next week.
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7 comments:
Man this mkt is absolute insanity.
Well I bought EDZ at 1137 now we're at 1142 and I'm still up 3 cents on the trade. I don't really get it because I'm not down on the trade, I'm going to give it to 1150. If we get there, I'm doubling down. I'll be damned if this mkt goes higher than 1150 to 1155 tomorrow.
Didn't we have a positive NFP in November? Like 100K jobs created?
If that's the case, maybe they hired them all in November to hold them over till December.
IMO if tomorrow we don't get a positive number, it will be less than expected and disappointing.
Market Owl - great call, again.
I couldn't believe we would cross 1140 today, but here we are.
Now about these bull market sharp selloffs -
Are we talking about 30-40 points, or more like a 100 points down ?
Thanks
Thanks for the updates...I'm very impressed because you have stopped me from shorting 3 times now........
Hope you alert us when we have a selloff
I am thinking around 30 points. I don't see a 100 point drop unless we get much higher.
1115 to 1120 is support. Which I think we'll smash.
In case anyone hasn't notice, mkt is up like OVER 70% SINCE MARCH.
mkt is up like OVER 70% SINCE MARCH.? But we are DOWN over 250 pts on the S&P from 2 years ago!! It's all how you look at it.
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