Friday, December 2, 2011
Straight Up Moves
There is no moderation in this market. Everything happens in extremes, extreme selling and then extreme buying. There is no back and forth these days. Those who follow typical patterns on selling after a big up day have gotten hammered this week. The market is like a helium balloon, it keeps going up and up until it pops. Already up huge on the futures. Everybody knows after the blowout ADP numbers that the nonfarm payrolls will likely beat expectations. But with futures up already over 1%, I don't see us tacking on more today so I'm going to look to short any pop on a good jobs number.
Subscribe to:
Post Comments (Atom)
Posts
9 comments:
Adding to all my shorts from yesterday
Yes, today is the day to put on shorts, we are back near strong resistance at 1260.
CMG looks like another great short here gonna stab 500 shares at $327
See ya at $250
wouldn't it be a better idea to wait for after that EU summit on the 9th before making a decision?
EU summit will be a nonevent, they always are. All hype.
"New York Fed purchases $2.512 billion in Treasury coupons" this is the key for this rally. in such a thin market these 2.5 bln with leverage 1/30 create wonders. the thing is next week I suppose they will be selling ;)
and it has little to do with support/resistance da boyz just run the futs in the direction most suitable to run the most stops.
Owl, wondering your thoughts on Iran in 2012? Any conflits with Israel? Any stoppage of oil production?
No, they will not embargo Iran, that would be shooting themselves in the head when they see oil shoot higher. Geopolitics is only a factor when its self inflicted, like Libya, Iran will keep exporting oil.
Post a Comment