Thursday, February 18, 2010

Indices closed near HIGH of the day AGAIN.....NICE !!!!

For three days in a row indices resisted selling & went on to close near high of the day...TAPE is giving "clear signal"that it wants to go higher.......

Fed increased the discount rate to .75% from .50% and reduced the time on discount window to "overnight" instead of almost a month........

Based on RECENT months of activity of this facility there was hardly any "usage"..banks were NOT using this facility @ all ?????

SO...why all this NEGATIVE reaction to this non-usage...in Bill Clinton's words because I ( THEY) COULD......

Fed has been ARTICULATING for months that they are READY to take back MANY facilities which they had put in place to deal with "financial EMERGENCY"

Only 5 mt traders on Fast Money looked "Surprised & SHOCKED"....some are buying VIX like buying puts on market.......I say go ahead & do it ......

My take IS... that it is an EXPECTED move among many to come ...by the end of the day "markets SHOULD find footing"......as THESE are sign of economy becoming HEALTHIER..which IS good for markets.....

Nobody should invest for 1 day event..even for traders these "events should be factored IN"

AH DELL ER was bad as expected Down 5.88% on AH volume of 2.45 million shares....

AH Futures are DOWN.....DOW <67>,S&P 500 <10> Nasdaq <15> NOT a disaster as some traders would like to paint.....

AH Nikkei Down .69%

AH Oil Down 77 cents

AH Gold Down $12.10 to $1105.90.....

Many stocks were UP today.......

BLOG does NOT give buy or sell.

Saleem

4 comments:

c said...

SALEEM

I have missed J Carmer on TV--yes hard to believe

But your blog keeps on giving !!!

thanks my friend for the hard work and analysis you provide to us all.

I am fully invested and holding

Cheers to all

Stocks100 said...

Hi C,

TAPE is very strong and all the NOISE is just created by CNBC.

Stay the course !!!!

Saleem

standardshigh said...

Hi All,

BDI showing some strength

Baltic Dry Index (BDI) +43 2704

maybe the pendulum is swinging to positive.

Best Regards

Stocks100 said...

Hi Standards,

GNK is GREEN.....

Saleem