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ES and the Great POMO Rally
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ES and the Great POMO Rally

  #511 (permalink)
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Private Banker View Post
Trend line taken out... See if it holds. We could still get a close above it to keep it valid. Amazing market today.

Yeah things are getting interesting....want to see where we close

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  #512 (permalink)
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Michael.H View Post
Im waiting for the head and shoulders pattern to fail.

So much for the H&S failing. Lol! Did you cover?

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  #513 (permalink)
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So much for the H&S failing. Lol! Did you cover?

To be honest I did not trade it, I did notice it but was not convinced enough to jump in.....thought as some others it might get blown out.

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  #514 (permalink)
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kbit View Post
To be honest I did not trade it, I did notice it but was not convinced enough to jump in.....thought as some others it might get blown out.

Yeah, the set up (short) made sense but there was just too much uncertainty with the debt ceiling soap opera and the Fed meeting on the 9th. I've just intraday traded this which has been great with the volatility. With this drop and the deteriorating econ data, Bernanke is licking his chops for additional QE. I could see the next round being far less effective and more damaging then the last.

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  #515 (permalink)
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Yeah, the set up (short) made sense but there was just too much uncertainty with the debt ceiling soap opera and the Fed meeting on the 9th. I've just intraday traded this which has been great with the volatility. With this drop and the deteriorating econ data, Bernanke is licking his chops for additional QE. I could see the next round being far less effective and more damaging then the last.


BONDS...

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Buckle up...


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  #517 (permalink)
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The yearly open 1256.25. Will it hold, that's the question!

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  #518 (permalink)
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Wow, that was a nice sell off at the close. We blew right threw the 1252.25 level and are getting close to 1241.25 which I don't see being significant support but you never know. The S&P 500 is now negative for the year (just slightly).

This is getting very exciting.

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Wow, that was a nice sell off at the close. We blew right threw the 1252.25 level and are getting close to 1241.25 which I don't see being significant support but you never know. The S&P 500 is now negative for the year (just slightly).

This is getting very exciting.

You just gotta love the volatility these days... The months, or possibly even years, ahead should be perfect for daytrading...

I "gambled" on some 1250 puts a little while back, sometimes things work out pretty well...

But it turns out I might have gone even deeper, anybody have a crystal ball for sale?

As long the ES touches 1000 (preferably 900) before 2013, I'll be satisfied...

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  #520 (permalink)
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I light of the all time high in Gold today, I just thought I would take a moment to recognize the Bernank and his accomplishments. Boy, he must be so proud of all that he has achieved. The one who said there was no housing/credit bubble and sub-prime was "contained" and housing has never dropped on a national basis. And his latest, inflation is "transitory".

He stated on 60 Minutes that he was 100% sure that his QE will work. Hmmmm.... Looks like his record continues to be predictable. Isn't it time we removed him? How much more can this world take of him?

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