Market gave a "huge thumbs UP" to details of toxic removal plan for banks.....
Almost 7% move UP in most index...small cap Russell 2000 index UP 8.4%
We have 1 more new 52 wk high than lows on NYSE...after a long long time !!!
On Nasdaq we still have 1 more new 52wk low compared to high..not bad @ all !!!
Internal strength of market were Super Strong which is expected in a move like this.....
Canadian $ had another great move UP against US$...UP 1 full cent +++
BUT......
VIX remains high stuck in the mud @ 43.23 ????
FMCN AH reported a miss on both top & bottom line...down 12 cents AH @ bid.....
Where do we go from here in markets.....AH futures are down after factoring fair value???
BLOG does NOT give buy or sell.
Saleem
5 comments:
Loved the gain, however, more volume would have = more conviction. Lets hope for the best.
Hi Victor,
Above 50DMA move in all index is what we should celeberate.
Volume will come.....today volume was light because of OE manipulation on Friday as some traders were stopped out???
Saleem
Hi Saleem,
Its good to be positive.
Hi All,
Just to show you how far we have fallen,,,,,we need 14 more days like today to get back to the old record high in the DOW. 14 - 500 point days! Don't say it can't happen. We saw it on the down side in less than a year!
So what was the REAL motivation today? A little catchup from Options Expiry? Plus gains from overseas? Greed coming back into style? :)
No one knows why? Well someone does....500 points worth. We're headed higher. :)
Best Regards
Hi Standards,
Yes.....the possibilities ae endless....
So if we get 30 more days like today..we could be @ Dow 22,000???
What happened.....
Everybody gets TRAPPED in any strategy.....
So it was short covering or lose it all.....
Still trillions waiting to get in the markets......
Saleem
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