Back and kind of amused … BOUNCE ALERT!!!
Market volatility is getting nastier by the day … if you trade them … nice or nasty P&L Swings guaranteed …
Anyway … situation fundamentally unchanged … the financial system is fragile … BE AWARE!
Today we reached … and so far HELD some KEY LEVELS in the markets … so BOUNCE ALERT!!!
Dax held downchannel at 6025 cash … S&P held 1220 channel … and NQ tries to crawl back above LONGTERM UPTREND …
ALL WITH NASTY FALSE BREAKS … which is good 
until Friday expiration I expect an sharp upmove … let’s see
The reason for that IMHO is … that despite reaching KEY levels and being NICELY OVERSOLD …
that BERNANKE and FRIENDS … are working ON ALL LEVELS to stem the tide …
- telling the market Voodoo things about their ability to bail out Freddie Mac and Fannie Mae …
- sending the SEC to the Hedge Funds to probe “false rumours” …
- investigating short selling anyway …
- probing the commodity speculators …
AND today I heard from the NYMEX, that some HUGE HF’s just got NOTICED … they must cut their exposure by 33%
MARGIN CALL …
This started the fall of crude and other commodities earlier today and initiated RELIEF Rallies in stocks …
So … let it bounce … don’t get caught
Tags: Bernanke, BOUNCE, expiration, Hedge Funds, margin call
Juli 15th, 2008 at 23:21
Welcome back, Oli. We missed you.
Yes, “don’t get caught” is good advice. It’s the same advice I tell people who want to go swimming in the ocean: Don’t get caught swimming without a bathing suit, because when the tide goes out, everyone can see… well, you get the picture!
Regards from Seattle
Juli 16th, 2008 at 02:44
Euro looks exhausted and is ready for a MASSIVE correction down to 1,45 USD within the next 4/8/12 weeks, Chart features a really promising picture for this scenario…
Along with this … CL will be available for 100 USD and less per barrel …
welcome back, Henning
Juli 16th, 2008 at 03:02
If no suit, go naked!
Good to see you back, Oli.
Juli 16th, 2008 at 03:35
getting caught is ok, as long as in the right direction, just like wave ridin.
USD looks to hit the abyss.
Juli 16th, 2008 at 19:00
Wow, ur bouncing sure was right for the Dow.
Not so much for the dax though…
11k seems like a thing that brakes hard….
Juli 16th, 2008 at 19:54
Thanks @ all
@Henning … You still have good charts
Still bouncing …
The Dax even bounced twice …