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Bull Trap.
I agree for the most part. I would recommend most people just stay out for now. I'm short via QID and I've got some buy/writes going on the QQQQs.
It's my version of a market neutral strategy, but is biased towards more downside.
Cramer is not the brightest bulb on the tree, but he's right about there aways being a bull market somewhere.
If you don't understand it, don't buy it.
The final for the Dow was blatant market manipulation. The rest of the world will not fall for it. The recovery of 300 points in the last 40 minutes for no reason at all, is bull. Wait til tomorrow, it being Friday. Just as I finish writing this, Ron Insana comes on and says it was "too perfect", and he doesn't know if he believes it.
Hello Cid Yama,
Very intriguing point! So maybe tomorrow we will see the market plummet 600 points, but then the 'Plunge Protection Team' [PPT] will drive it back up again in the last trading hour. Any idea how long the PPT can do this?
And at what point does the PPT covertly convert, then stand for...wait for it... an unannounced, corrupt, but very exclusive bigbuck$$ 'Plunge Profit Team'?
I have no idea if any of this is really possible, but I want to know more please.
Bob Shaw in Phx,Az Are Humans Smarter than Yeast?
And at what cost?
How much money does it take to reverse a 300 point selloff?
Poof.
It's been done.
This morning with the wave of a magic wand. Dow is up 300 points on opening.
Isn't it amazing how we humans can cause the price signal to move up and down with waves of our magic wands?
Click your red ruby slippers together and repeat after me:
There's no place like FOMC,
There's no place like FOMC,
There's no place like FOMC,
See Dorothy? All you got to do is believe.
Your federal tax dollars at work, or something like that.
There a link or youtube to what he said?
Dow recovers most of a 340-point drop
You know, a lot of these Hedge Funds getting margin calls have short positions too. I suspect a lot were hoping to cover as the market continued to go down but got forced into as others covered before them.
Keep in mind Options on Oil Futures expired today and stock and index options expire tomorrow. Index options expire on the open.
I wouldn't read anything into the events of a single day. The trend is clearly down until it changes otherwise.
The dow and nasdaq closed lower and the nasdaq 100 was off over a percent, so I'm not sure what the party on CNBC was all about.