Friday was another Day 1 for a possible rally. So now we wait for a confirmation day, preferably in Days 4-7, which requires a 1% gain in the major indices on higher volume.
The WSJ says European banks are having more funding problems. It seems that community expects a bank failure. The ECB seems to be doing its job, pumping in euros. But my guess is the banks need dollars. And I think the Russians and Mideast are sucking those out of European banks. Hence the funding problems in Eurodollars.
Of course, a smaller US current account deficit also reduces the flow of Eurodollars to Europe and beyond.
RTP stock is up on a rumor that a China consortium might buy them. Materials stocks are up.
Gold is up to $836. Oil is up to almost $99. Futures are up ... so far.
GOLD MIST will be picked up this afternoon - perhaps a good omen ? The correction began about the very day I ordered it.
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13 comments:
GOLD MIST...critical timing Bunkerman...we are certainly ready to rally, just need to keep the shoes tied tight, strap them on.
Bunkerman...you thinking of taking any trades outside the fins into the end of the year...perhaps some adds in the big cap tech space...the darkside at this point feels like you better be quick or dead...nothing yet to prove that to be the case, but I sense via the action in my long postions that the bulls have a good shot at fending off the bear.
I go to the dealer at 3PM for the pickup. So that means the close or Tuesday AM ;-)
I might buy more CSCO, YRCW and re-buy EDU.
I have a lot of GOOG and AAPL so not plannig to buy more unless the beefers really hit them.
Not really think about new positions as I'm pretty long.
But when a real rally gets going, I might pick up some "trades"
Bunkerman...taking some MSFT with room to 33.25.
HBC...are your surprised by the action in the stock today Bunkerman? GM news another sign that fear may be over done...ETFC, who cares, really.
Not much surprises me nowadays, frosty. The beefers can take the market any which way they wish short term. Hitting Friday is not a surprise.
At some point the mud stomping will end and the new trend will begin. How many times can they sell the same "news" ?
Bunkerman...did the fed get your message? perhaps they are waiting for the fed funds rate to exceed the 30 yr. before they pull their heads out.
interesting. I wonder which beefer, who is a campaign contributor to Schumer, got him to complain about FHLB lending to CFC?
Just a logical speculation, no special knowledge.
But they do play hardball in beeferville.
I think they are being complacent and risk losing leadership to the ECB.
I can't figure our why they can't see they have tight money. I am realy starting to think they are secretly supporting the dollar. But a weakening economy hruts the dollar, so if that's it, they are being very stupid.
DC is a strange place - that's why I say they should have day jobs in reality somewhere.
Got the Gold Mist. Very fine car.
Beefers seem to be going to press until the Fed moves. They want a crisis.
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