CNBC’s policy of not reporting the Chicago PMI certainly backfired on them Wednesday morning, didn’t it? The market got quite a jolt when it surprised to the downside at 9:45am. What’s wrong with CNBC? Do they really think traders would rather listen to them yap than get the news?
In case you didn’t hear, it was Fed Head Donald Kohn’s speech that saved the market Wednesday afternoon. The Fed has exited its exit strategy. It wasn’t enough for a green close, but will it stave off a correction?
The IYT ate away some more of its September 10th gap at 68.57 that I have been talking about recently. The IYT needs to rally quick becuase the support is starting to look awfully shaky.
An early observation. Does anyone think the endless rampings have desensitized traders to down swings? Are many emboldened to hold losses much longer? Is holding broad market etfs REALLY the way to go? Is this REALLY the time for choosing – meaning, will many traders hold a broad etf while the holdings within are consolidated? What I’m asking is – will the novice be fleeced? Are we entering an expert’s market where the last two years was the period for due diligence and now choices must be made?
desensitized? tell that to those traders that right now are near their windows wondering if their “escape” plan is out there.
Mitch,
you would think traders are desensitized but they aren’t.
just my 2 cents
hahahahahaha
http://damncoolpics.blogspot.com/2009/10/upside-down-house-in-germany.html
K:
I welcome your two cents.
and I welcome your opinions too.
we’re all learning. am not always right.
but man oh man my call was EPIC. (sorry am a little self centered today)
check this funny video
http://www.youtube.com/watch?v=b494dinhd4Y
just replace it with me lol
K: I’ve been too weirded out to respond to your calls! Good is ok but damned near spot on is —————–freaKy.
Mitch I think i was in the zone this past week of september
my past 3-4 posts on the blog have been SPOT ON!
If it continues i’m also going to freak myself out.
lol
phil,
That would be some island, indeed! And, if you look closely, there is a potential IH&S with the LS on 9-17, the H on 9-23, and the RS on 9-30. It projects to the point where you’d get a near-perfect island reversal. Wowzer.
wanna know why markets crashed? well i’ma save it till they do. but i have the best explanation yet. except am afraid am too on target today. here i go away from everything lol
K,
Where did you see the news that Comcast
was buying CNBC? Thanks.
Paula
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOxhKI0hHCOw
String
Paula,
it’s everywhere. I saw it kinda first at Barry’s blog
http://www.ritholtz.com/blog/2009/09/comcast-in-talks-to-buy-nbc-universal-from-general-electric/