Monday, August 8, 2011
Global Margin Calls
That last hour was margin calls and forced selling. It is continuing in the after hours. I am seeing Europe outperform the US in the past few trading sessions. They get to the strongest markets last, and the US equity market has been the strongest. I expect much higher prices after Bernanke hints at QE3 tomorrow.
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5 comments:
God, I hope you are right!
Who doesn't expect QE3.... or is this just the market making sure Big Ben knows what it expects of him. I hope all the S&P f'ers have loads of company stock
Oversold does not begin to describe it. Actually earnings have been quite good. Lots of stupid, senseless panic selling.
That said, there is, at the moment, no sign of real conviction buying.
And I'm not sure QE-3 or whatever will inspire any. Greedy shorts may cover.
Ben never disappoints the bulls. And the market is set up to squeeze higher on hints of QE3. The panic today was the most I've seen since March 2009.
there is still alot of complacency on cnbc and boards like this. amazing how many technicians talking today about "tradeable lows"
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