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#21 arbman

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Posted 06 October 2013 - 08:46 PM

If the market doesn't go down here and in fact promptly squeezes over 1700, everyone will buy AND hold for the next 100 points down. :lol: After all, the puts or shorts accumulated from last week are still fresh...

Edited by arbman, 06 October 2013 - 08:47 PM.


#22 redfoliage2

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Posted 06 October 2013 - 09:03 PM

As internals are approaching breakdown threshold I see we are going to have a serious selling this week. We may not see much a bounce in the futures tonite; in case we do get a bounce in the futures tonite the regular open in the morning won't be good. Low probably will be seen in regular session ...........

Edited by redfoliage2, 06 October 2013 - 09:12 PM.


#23 pdx5

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Posted 06 October 2013 - 09:06 PM

Hilarious.

Boehner says default is imminent.

Result??

Bond futures are soaring on the news, LOL...



Why is that confusing that bonds are soaring?
Default will tank the economy, which is obviously good for the bonds.

Basic investing 101.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#24 redfoliage2

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Posted 06 October 2013 - 09:17 PM

Also take a look at the risk aversion indicator, USD/JPY that is ready to go below 97 in a matter of hours..........

Edited by redfoliage2, 06 October 2013 - 09:18 PM.


#25 CLK

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Posted 06 October 2013 - 09:37 PM

This retest looks like it is going to fail.

#26 PrintFaster

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Posted 06 October 2013 - 10:16 PM

Asian stocks cratering, led by New Zealand. Looks as if the U.S. will have a 150 point down day tomorrow.

#27 CLK

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Posted 06 October 2013 - 10:17 PM

Look at where the futures hourly MACD is in relation to the last gap down that eventually filled, right now it has just barely crossed down and through the zero line, where before, it occured at -30, so this could trend quite a bit lower before an attempt at a fill. I'm looking at YM.

Edited by CLK, 06 October 2013 - 10:20 PM.


#28 arbman

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Posted 06 October 2013 - 11:01 PM

Hilarious.

Boehner says default is imminent.

Result??

Bond futures are soaring on the news, LOL...



Why is that confusing that bonds are soaring?
Default will tank the economy, which is obviously good for the bonds.

Basic investing 101.


US can NOT possibly default, the interest payment due is $20B, they receive about $250B in tax payments.

The most we will see is massive govt lay offs, more furloughs etc...

#29 pdx5

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Posted 06 October 2013 - 11:13 PM

US can NOT possibly default, the interest payment due is $20B, they receive about $250B in tax payments.

The most we will see is massive govt lay offs, more furloughs etc...



You are absolutely correct, arbman, as usually you are.

But the fear mongers always point to "default on US obligation", "no social security checks" ,
no "Medicare payments" etc.

In reality enough tax money comes in every every quarter to pay all interest on debt,
social security, medicare, medicaid, and military plus Homeland Security.

But dept of labor, dept. of education, dept of agriculture, dept of Commerce, etc could be left out in cold.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#30 arbman

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Posted 06 October 2013 - 11:41 PM

I am a Republican, but I don't like Boehner. I actually like the Affordable Care Act as it should actually lower the costs and it is one of the growing hurdle of the corporations. They are dropping the coverage of their employees anyway. I don't think social security or medicare will really run out of money either, the benefits can be slightly adjusted and the costs will eventually come down a bit with better technologies too. The gap in between the median income and top 1% must be closed, it really means the top 1% must be taxed at 90% again to pay off the national debt, not by running more current account deficit. There is only one viable way to balance the budget, and it is to tax the top 1%. Sad, I know...

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Edited by arbman, 06 October 2013 - 11:50 PM.