going to be very interesting trading for a while.......
on a side note, the grain markets did a mini version of a turnaround today also....
corn was $4.50 yesterday and sits at $4.24 now....... trading thru 417, will take us to $4.00 quickly...
beans down from $8.06 to $7.78
wheat down from $5.10 to $4.83
the impact of china's decline (or armstrongs call) was felt in a lot of markets today........
on a side note, the grain markets did a mini version of a turnaround today also....
corn was $4.50 yesterday and sits at $4.24 now....... trading thru 417, will take us to $4.00 quickly...
beans down from $8.06 to $7.78
wheat down from $5.10 to $4.83
the impact of china's decline (or armstrongs call) was felt in a lot of markets today........
When asked what FAs are a telling their clients: first remark out of all of them is "sell a little of this" or "take some profits from here" or "sit tight." Nothing bullish about anything.
Does anyone see a single indicator that would show we are going to go back up?
Why would anyone be buying tomorrow? Firesale prices? Not quite at that point yet. People will be selling and waiting for others to buy before they buy. I don't see it happening.
Important factor will be the Nikkei's overnight performance.
Can't wait to see what Bernanke says tomorrow. GRRRRRRRRRRRR
Does anyone see a single indicator that would show we are going to go back up?
Why would anyone be buying tomorrow? Firesale prices? Not quite at that point yet. People will be selling and waiting for others to buy before they buy. I don't see it happening.
Important factor will be the Nikkei's overnight performance.
Can't wait to see what Bernanke says tomorrow. GRRRRRRRRRRRR
definately going to watch the "Fast Money" guys tonight....
Cramer's take is::::::::: sit tight until thursday......... tomorrow, there will be more selling (especially early), then you will see people slowly moving into the big blue chip stocks again... particularly stocks like "Proctor and Gamble".....
2 year support for the SP market was 1389....... exactly todays low....
if i were short, id be trailing a stop.......
move from 1453 to 1389....... takes us back to 1421.... this is where solid resistance will be met................. ill bet this will be the highest we see the SP for a few months........ if we get back here.....
its sitting at 1392.75 as i type this, so we are sitting near todays low..
market is open and trading on tomorrow session..... gotta love the emini sp
Cramer's take is::::::::: sit tight until thursday......... tomorrow, there will be more selling (especially early), then you will see people slowly moving into the big blue chip stocks again... particularly stocks like "Proctor and Gamble".....
2 year support for the SP market was 1389....... exactly todays low....
if i were short, id be trailing a stop.......
move from 1453 to 1389....... takes us back to 1421.... this is where solid resistance will be met................. ill bet this will be the highest we see the SP for a few months........ if we get back here.....
its sitting at 1392.75 as i type this, so we are sitting near todays low..
market is open and trading on tomorrow session..... gotta love the emini sp
Cramer is a fraud. He will bust you active traders. The brokers and Wll Street will get all of your money....as usual. Cramer made money with his Hedge Fund because he paid for Inside Information....not a major crime when it comes to finance. If you gave him one million dollars and forced him to live off of it by trading he would go broke. Look at his genius from this article in early 2000. he even talked trash on Warren Buffett in another article around that time. He is a joke. Below are his Winners for The New World...from 2000.
http://www.thestreet.com/funds/smarter/891820.html
I have no argument with buying value, but value is not defined by something falling in price.
Alot of stocks are higher today, but some confidence was lost yesterday.
Also agree a correction is overdue, but a one day 3-4% drop isnt a correction. It was getting beyond ridiculous with markets lacking any real volatility.
Alot of stocks are higher today, but some confidence was lost yesterday.
Also agree a correction is overdue, but a one day 3-4% drop isnt a correction. It was getting beyond ridiculous with markets lacking any real volatility.
