Market gapped up, meaning a near 100% chance of an up day, and then proceeded to tank.
Anyhow, seeing that the recent stats on "1st day of month" were being given the bird.
Tuesday, March 1, 2011
The Market, the perfect deceptor, 1st day of month
Near perfect! Deception.
Market gapped up, meaning a near 100% chance of an up day, and then proceeded to tank.
Anyhow, seeing that the recent stats on "1st day of month" were being given the bird.
Played a short and closed it out about the PRS channel line, not some short term floosy one week stand channel line, but the main PRS up channel from the September lows.
Market gapped up, meaning a near 100% chance of an up day, and then proceeded to tank.
Anyhow, seeing that the recent stats on "1st day of month" were being given the bird.
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Note from the real world...
ReplyDeleteLast summer I noted that contacts in real world manufacturing were very busy and that prospects looked strong. This was exactly when BB spooked the hell out of markets in Aug - we have since ran straight up for six months.
I've just heard from same real world that credit has seemingly dried up in just the last month. Bills are not being paid. Something happened to revenue streams in last month apparently. BB should come out with some bullish assesment very soon by this account. I did note GM sales were said to be up like 50% last month. JSP is back in and now in trouble. Dow BPI has been stuck at 90 - almost no where to go but down.
Please look at FTSE chart and tell me what you think.
ReplyDeleteI think JSP is barely back in, they don't trust the system anymore. The money involved in HFT and games is the money under management, the pension money, trust money, school money...that will slowly be transferred to HBB as they ramp up and down and play games.
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