Honestly, what did you think would happen? The same asshats that didn't see this entire crisis coming would announce some super instant solution and the market would rally to 1000 on the S&P 500? Come on! Really?Time to punch out some brand new lows now that there isn't anything left in the political pipeline to inspire hope... especially now that the whole damn world went into this epic fail of an announcement completely Bullish and un-hedged as measured by the CBOE Options Total Put / Call Ratio. Oversold conditions have also been worked off...
"This is going to be awesome (for Bears)." (First chart, bottom right)
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Ah, Mr. Ninja, never underestimate the bulltards and their gaggle of fools who are trotted out non-stop to speak with the hot women on the financial networks. It's all about jawboning, perception, psychology, confidence -- anything and everything but reality.
Re: "there are no more catalysts to spark a rally" -- what about the potential for repeal of mark-to-market accounting? It seems like moving to pretend play land would spark the mother of all rallies. Any opinion?
Well once there was a time when the Ninja was a sole voice in the wilderness warning of deflation...but now everybody and his sister are calling for big drops in the Indexes (sic)...this makes my inner contrarian twitchy. Maybe that rip-your-face-off bear rally that never happened is just late? Maybe a bear trap here-abouts? Maybe a big bear's affectionate short squeeze?
Bulltards got wasted!
LMAO
Logic says you are absolutely right but this market has to slay a few bears before it is ripe for take down IMO. Bulls have to go through some more emotions culminating in euphoria, while bears will be depressed and despondent. We are just not there yet. I am sitting on the sidelines apart from long positions in a bunch of precious metal stocks. I am one of the tin foil hat brigade !
Josh
Ben checkout the major triangle going back to Oct 10 (high) and Nov 24 (low). We're still in the triangle. I see 820 as the key level to break on the downside, then it's every man for himself.
Ben here's the triangle I was talking about
Vijay,
Thanks. I've been seeing it too. I think we'll break down because oil is now below $40 and Exxon Mobile (XOM) looks set to break down.
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