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Post by huh on Nov 21, 2014 11:54:52 GMT -5
But really, all you need to know... ECB President Draghi hinted at more stimulus this morning, causing the EURO to drop, followed by, China announced interest rate cuts. ( more info) S&P futures at the highs now nearly +18 & rising. BTW - neither of these are good for our markets, regardless of what the media or market's reaction might say. (maybe for our economy, but not the markets) JMHO
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Post by huh on Nov 21, 2014 12:15:32 GMT -5
This feels like watching something die.
SOMEBODY SAVE US! lol
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Post by maxi on Nov 21, 2014 12:20:18 GMT -5
Maybe it can go red.......
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Post by huh on Nov 21, 2014 12:27:33 GMT -5
Maybe it can go red....... Charts are saying WAY red. But there's always hope I guess - more magical fairy dust? What concerns me is this is at least the 6th gap-up in SPX since the 10/15 rally began. But this could be the first to fill the gap, and only after testing the top BB. That could mean a trip down to the lower BB next week. But like I said, there's always hope, right? Really need tech to turn up this afternoon. But even AAPL looking weak - it's ST support sits around 115.80 today.
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Post by huh on Nov 21, 2014 12:31:23 GMT -5
Both NDX & IWM look as if there about to fail the rally (lose the last FIB of the up move).
But I still have my fingers crossed for an afternoon rally.
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Post by huh on Nov 21, 2014 12:33:21 GMT -5
If only SPX would have pulled back to the 2020's the last couple days. Market's running out of bears me thinks.
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Post by huh on Nov 21, 2014 12:56:02 GMT -5
I know I sound so bearish. And I have to apologize... Apparently I was looking at the wrong market this whole morning! BOL all.
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Post by maxi on Nov 21, 2014 13:04:04 GMT -5
I do believe the appropriate phrase here is: DYING ON THE VINE
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Post by maxi on Nov 21, 2014 13:06:56 GMT -5
If you think about the action of late, it is like they are luring people in one sector at a time then pulling the rug out and moving to another. Solar, Uranium, gold miners, just last week natural gas and some oil, etc etc.... Oh and today China momo. Probably more but I can't watch them all....
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Post by clinton on Nov 21, 2014 13:08:43 GMT -5
so china unexpectedly cut rates just before opex
I wonder how many insiders made out on that info?
Im sure China turns a blind eye when it comes to stealing from wall st.
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Post by maxi on Nov 21, 2014 13:11:55 GMT -5
Oh and this is not a comment on Novi's guys she follows BUT I did see an apt quote yesterday. ( paraphrasing since I forgot to post it yesterday)
GURU is another word for CHARLATAN only easier to spell.....
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Post by maxi on Nov 21, 2014 14:04:30 GMT -5
Okay maybe we not done yet
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Post by jacksrbtr on Nov 21, 2014 14:58:42 GMT -5
so china unexpectedly cut rates just before opex I wonder how many insiders made out on that info? Im sure China turns a blind eye when it comes to stealing from wall st. Wall Street, industrial proprietary secrets, American nuclear weapons secrets and soon to come to an online trading account you own....or used to. We are at war with China - people just don't realize that yet.
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Post by jacksrbtr on Nov 21, 2014 15:04:50 GMT -5
Just to break the incredible tension I am sensing with the Market and this venue we all call home, I just learned that it's best to soak the tiny little retaining screws holding your bathrooms soap and toothbrush holders for awhile before you RUIN A PERFECTLY GOOD SCREWDRIVER BECAUSE THE LITTLE BASTARDS ARE CORRODED IN PLACE FROM 50 YRS THERE!!!
Grrrrrrrrrrr!
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Post by huh on Nov 21, 2014 15:40:53 GMT -5
No matter how you dice it, today was almost an entire day of selling. From the HOD open right up until the last couple hours, nothing but selling.
That's a 15 point sell-off in SPX with one of the higher volume days we've in the last month. We haven't seen that kind of selling in a long time.
It's funny, if SPX is red by 15 points, people get scared. But if it gaps up 20 and then sells off 15, everything's OK. Gotta love market psychology.
I hope it continues to take the market higher a few more times next week, but not holding my breath. Those Chinese can only push those futures up for so long (there's a reason why they send their IPO's/IPO bonds over here instead of there)
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Post by huh on Nov 21, 2014 16:06:54 GMT -5
Some of the most bearish intraday charts & candles I've seen in a long time.
But no VIX blessing.
I hope they all get squeezed on Monday.
Have a good weekend all.
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Post by maxi on Nov 21, 2014 16:14:20 GMT -5
Does anyone remember what year it was when the market was doing it's pre-holiday pre T-Day run up and on T-Day global markets dumped? While we were unable to react? Afterward they went right back up into Jan- early Feb. I think....
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Post by huh on Nov 21, 2014 16:33:33 GMT -5
Does anyone remember what year it was when the market was doing it's pre-holiday pre T-Day run up and on T-Day global markets dumped? While we were unable to react? Afterward they went right back up into Jan- early Feb. I think.... I don't remember that specifically. I do remember in 2011 the market selling off pretty hard in November but then turning sharply up into the next year. But it was falling into T-day that year. It did that as well in '10.
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Post by maxi on Nov 21, 2014 16:37:58 GMT -5
Does anyone remember what year it was when the market was doing it's pre-holiday pre T-Day run up and on T-Day global markets dumped? While we were unable to react? Afterward they went right back up into Jan- early Feb. I think.... I don't remember that specifically. I do remember in 2011 the market selling off pretty hard in November but then turning sharply up into the next year. But it was falling into T-day that year. It did that as well in '10. Hmm maybe it was like you said. My memory on that stuff is useless without a chart....
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Post by huh on Nov 21, 2014 16:44:26 GMT -5
Me too. No chart, no memory.
And maybe today's down moves were only because of OPEX...? I hope so. I'd hate to see indices continue to rise with this kind of selling
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