After TWO hours of trading markets are showing sign of LIFE.
SHORTS tried to PUSH the markets down by Mini S&P contracts....... tried desperately to bring DOW DOWN......they were able to PUSH Dow down to 15 points or so...then in 5 minutes they all started to COVER.....because nobody PANICKED and followed SHORTS.
Bill Gross interview on CNBC.......was actually very BULLISH for the stock market.
Bill Gross is predicting MORE pressure on housing due to Higher interest rate in terms of RENEWAL and Sale.
Bill Gross is saying 1% Q4 GDP which will FORCE Feds to CUT interest rate by end of the year.
Bill also thinks Equity will be a much better place to put money to work.
So there you have it................from the CAUSE of freefall yesterday...which in turn is very bullish for the stock market.
I sincerely HOPE that Fast Money crowd & Cramer buddies have COVERED their SHORT position...........code word for sell in the rally is "Short the market".
So RELAX have your Cuppicino NOW !!!
@ 11.50 AM the following stocks are GREEN:
NSM,SNDK,JNPR,CSCO,YHOO,AMAT,WYNN,FMCN,RVBD,LVS,GRMN,
AMD,AKAM,EBAY,CIEN.
Surprisingly all the big guns are down like GOOG,AAPL,RIMM..........so far.
Hopefully we will have a very STABLE day going into close.
Good luck on rest of the day $$$$$.
BLOG does not give buy or sell.
Saleem
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