Well I am going to be watching tonight how Asia and Europe opens but I think we need to get a flush out here period. I don't like to be biased over a weekend but I have a feeling they will try and flush us since it was in the cards on friday but the rescue team came in to save the day. One thing that might trigger the selling is hedge fund redemptions which might be heavy as I have been reading.
Dow I personally think if we get a flush 'SHOULD' see 7380, that's the number I will be watching to poke some longs or if I am short to cover moving down to that number. The fact is the earnings numbers aren't helping and the news of Obama's lead widening don't help the wall street big guys who would more likely sell on a Obama victory.
Let's see how Europe opens and I might be up late to watch the opening to see where our futures are as I might short it overnight if we are up significantly.
Remember this week we have the FED meeting and their is talk of lowered rates but what's the sense it wont help.
Sunday, October 26, 2008
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