Today was a prime example of a news driven market. The market are looking for any news via the fed, mortgage derivative, hedgie etc to trade on. It almost seem too fake how we just trading off news in a hope of a rally or a crash. Here today I have to give it up to the bulls as the overnight lows didn't make a big impact on the final numbers. Tech, bios and agro stocks seem to have found some buying or short covering from the open to pan out a gain.
Well good to know Standard and Poors are on top of the market as usual. They claimed today that most of the bank write offs are coming to an end and we should be out of the woods soon. Well I have so much faint that I had my $5 in Enron when Standard and Poors said they were AAA rated, PLEASE lets be real here. Folks at Standard & Poors are a bunch of idiots and we will see soon enough if we are near the end.
Do you really think the Carlyle group is the only hedge fund out there that is using 32:1 leverage and got burnt. I think not but we will see soon enough.
Right here I am taking it easy as the FED action thru a money wrench in the setups i was looking at.
Remember next week is option expiration week and we should get some nice movements monday and tuesday. I am definitely not trading next friday as I haven't been having too much luck on options expiration days.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment