It's amazing the dichotomy between Nasdaq and everything else. If we get a rally here it is a fake-out to catch up to Nasdaq. It would also clear out some of the bears.
Got an order shorting SI futures 1% 24.49.
Subscribe to:
Post Comments (Atom)
I don't know how you do it, Steve. I for one am starting to get very discouraged. I1 is lower than it's been all year and the market keeps going up. It's also dropping fast and it's actually now a negative number! But the market refuses to go down.
ReplyDeleteIs it possible for this market to go down at all when every other day is a POMO day and QE II will likely flood the market with at least a half trillion new dollars? Next week we have POMO on Monday, Wednesday, and Friday! Moreover, Japan's Central Bank is now running their own QE and using their newly minted yen to buy things like stocks and ETF's.
We're in a Brave New World where the game is rigged. I am starting wonder whether we all need to just jump on the bandwagon of those who are doing the rigging.
We would then be part of a larger crowd that I care to be around in the markets. The bigger the better for sporting events and fireworks, but investing requires the lone wolf.
ReplyDeleteI1 does not turn negative until the 20th.
ReplyDeleteOn the $COMPX, it is 2 points away from completely filling the last open upside gap.
ReplyDeleteGood observation 2472.32. I'll include it in my post.
ReplyDeleteThanks, Steve. The lone wolf certainly works for you!
ReplyDeleteYou're right--I misread the I1 value list--it doesn't go negative until October 20. However, its rate of descent is pretty steep right now.
Have a great weekend!