Markets gave back average of around 3% on jitters about Job Data due @ 8.30 AM.....
Job Data should NOT be a surprise to anyone on wall street.....it is expected to be BAD....500,000 Job loss is in the cards......
Markets are trying to make a base ......and is discounting lot of anticipated bad economic data....
It will be interesting to see where we close on Friday......
OIL has been trashed below $44.....far cry from $140+++...this IS the biggest stimulus package to the world economy.....impact in TRILLIONS of $$$
Lot of talk about hedge funds impending selling of stocks of TWO Billion $......which market should be able to absorb ...as we trade in several trillions on a daily basis....but it IS being reported as an UNUSUAL EVENT????
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem,
What do you think about the prospect of the Dow bottoming under 1,000 in half a decade from now?
That's what we may be up against.
SALEEM
Good day sir
Lets get some green on!! what you say
I looked are rosesryellow blog very interesting material.
Some interesting insightful comments!
It is Friday lets hope for some ralley
Hi Rosesryellow,
Nice to see your note again!!
Based on everything I understand about economics and its history...the likelihood of Dow below 6,000 is very remote....
I personally like to believe that we have seen the LOWS already....
The gloom is so deep now that markets are ready to turn UP after finding support today.....
It is not based on optimism ..but how market operates.....
Saleem
Hi Carlton,
Good day to you also.....
Watch the close today!!!!
You may like what you will see$$$
Saleem
Hi Saleem,
There should be some way to play this market but the extremes come so fast and furious that you can get burnt on either end. I have charts that show the minute by minute action of the mini futures. Do you know if this is a leading indicator of the markets or does it follow the markets lead.
Have a great weekend.
Hi Standards,
Mini S&P is one of the many indicator which you can put into the mix....sometimes it LEADS sometimes it FOLLOWS the TREND...
I will suggest you look into the overall volume on down days...which will tell you IF there IS punch in selling or not...
Lower volume selling CAN signal a CHANGE in direction.....
Hope it helps !!!
Saleem
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