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I think it'll come in right at 345... and then just get adjusted next month to ~525 or so. Either way, I'm all squared up.
I wish the markets would get crushed on the release but I'm guessing that they probably won't... yet another low volume ramp on SPY and watch BAC gap 10% on the open.
Heh well that's why I am not an economic forecaster I guess.
What a fucking joke... guess risk is back on.
obama basically leaked this yesterday....
Next Stop
Dow 10k S&P 1100
After that I expect a pause. The technicals speak for themselves but fundamentally a few things really stand out to me.
1) Q2 Earnings across the board have came in a lot better than I expected. My thoughts were that it would come in as expected and we would sell off. Basically all the doomsday scenarios have failed to play out. 2) Case Shller housing data sequentially upticked for the first time in like 3 years. 3) Unemployment rate improved from 9.5% to 9.4% showing the "less bad" trade is still on.
Ideating you seem frustrated dude whats wrong did you short a couple weeks ago when dow touched 8k? Maybe you should stick to your core business model. There is no shame in flipping burgers honestly.
"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
Like I said - I'm all square, no frustration due to my portfolio. More frustrated waiting for the market to correct so we can finally get back to some semblance of reality.
And trade4size - when you are able to get a job as a collection agent at BoA and stop trading intraday bullshit technicals on cash equities at JT Marlin in South Dakota - then you can lecture me on "flipping burgers honestly".
They key in my mind is consumer spending... Q2 saw a miserable number, and without spending strength I'm not sure how quick a recovery can come about. That and cost cutting will drive EOY profits imo.
you make it sound like there is something wrong with "trading intraday bullshit technicals". If they work what does it matter how I trade. Keep waiting for your correction buddy its not coming anytime soon. You will be lucky to break even.
Some semblance of reality? So S&P at 666 was reality? Markets overshoot to the upside and to the downside constantly. I would say S&P at 1000 is a lot more "reality" than 666.
"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
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