exhaustion

grandma says: bottom should be at hand.. Nymo-SPX closing price divergence as well.. look at the dnvol/upvol...c-a-p-i-t-u-l-a-t-i-o-n.

I think it's possible to see a 9 handle by the end of the month on spx... But maybe a couple day bounce here to get more longs on board...

my theory - last thursday sell was a mistake - a clerk got confused and thought opex was that friday - we will see it tomorrow.

grandma says: bottom should be at hand..
Nymo-SPX closing price divergence as well..
look at the dnvol/upvol...c-a-p-i-t-u-l-a-t-i-o-n.

But you "loaded up the truck" at 9:15 this morning.

dude..there is something called dollar cost avging... let's see what kinda bounce we get

my theory -

last thursday sell was a mistake - a clerk got confused and thought opex was that friday - we will see it tomorrow.

Back in Oct. of '87 we had exactly the same setup. About two weeks before the crash that fat fingered guy took the market down 200 DOW points. The next two weeks saw the same kind of heightened volatility we had this past two weeks. Back then that was the tip off that the market psychology had changed. Anxiety was building. The US was trying to get the Europeans to help us out by cutting their interest rates so we wouldn't have to raise ours costing the US lots of money in debt service payments. Volatility built up right into options expiration Friday. Sunday morning Treasury Secretary James Baker was on Meet The Press and said that the Europeans had refused to help us. He answered by announcing that we were going to allow our dollar to find its own level meaning we were going to stand aside while the dollar tanked. Of course the rest is history. Monday morning the market crashed.

Today the Europeans have their own problems. Now they are at an inflexion point and need our help. Now I'm not saying that it's payback time, but there it is. Could this be Déjà Vu all over again? Don't bet against it.

dude..there is something called dollar cost avging...

Edited by milbank, 20 May 2010 - 08:04 PM.