Gap up this morning has been faded away - I cannot make any sense of any of the usual indicators expect PCR is dropping fast which would imply a sell-off could just around the corner. Except for energy stocks that are doing extremely well. Anything else out there?
Tuesday, February 19, 2008
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8 comments:
L
i've been long SDS since 63.68 from a few weeks ago. i have no idea what is holding up the market here. absolutely nothing has changed with the macroeconomic backdrop. there is no volume on this rally; the low volume on opex was really surprising to me. a retest of the lows seems inevitable to me and if that level fails to hold i think we'll see another 10% downside at an absolute minimum.
oh and BTW there are still way too many doubters on oil; that tells me it still has a ways to go.
MATT
Could it possibly be there are fewer hedge funds able to trade w/ unheard of margin 50-1 because they too got caught in the tangled web of these CDO...I here this is one of the reasons AAPL GOOG and all the high flyers had a nice haircut over the last two months...My sources tell me some reputable big money is trapped in these CDO's...when they lever so much it does not take much to lose your ass...You may start to see less and leaa volume as time goes by with these hedge fund problems...no tears here...
f
i won't question "your sources," but i doubt that's the sole reason there hasn't been any volume.
maybe there are a bunch of people out there who are delusional and still think that another intermeeting rate cut by the fed will save the markets and they're waiting on it or they're waiting on the fed even until next month.
Matt,
I would be careful about holding on to shorts. The only thing keeping the Fed's liquidty from propping up the markets IMO has been the Yen. It's now correcting. I would wait till the longer term trend resumes before going short again. Ideally I'd like to see a bounce off the long term up trend line. Plus don't forget the breadth extremes we saw last month and the COT did put quite a few of those longs back on.
we'll see gary...i still think the market is looking weak here though.
go home gary , you dck head , you cant call anything right, so quit being delusional, ok , dck head.
gary , aka, dckhead, when are you gonna close down this site and stay the fck over at the supposedly smart money blog ? you asshole . tia, your buddy anon.
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