[SBR_John]

Massive gains in Asia and big gains in Europe. The Asian gains are the largest in 10 years in many markets.

Stock market futures point towards a positive open on Wall Street at this writing. The Dow futures are currently +26.

I'm a seller in positive ground. With oil down that takes down XOM and the rest of the group. The credit turmoil will keep a lid on the rest. Shorts and Put players were destroyed from Thursday afternoon to now. But I think the bears are not done.

[Dark Horse]

DJII hovering slightly above Dow's closing on Friday.

[jjgold]

Gov't had to intervene and jump start the market again, its like it is rigged so we never take massive hits anymore. Corporate profits are strong though, it is hard to say if we are bullish or bearish.

[Dark Horse]

If the final hour stays relatively calm that could be a sign that the extreme volatility is behind us.

On that note. Thursday's final hour saw a very sudden 300 pt upswing; after days of continuous sharp losses. The next morning the Fed cut the rates. So the obvious question is: did traders on the floor know at that time that the rates would be cut?

[Dark Horse]

Up about 50 pts in first fifteen minutes of final hour...

[SBR_John]

Make it +85 with about a half hour to go. Not a bad market considering all the overhang from the credit woes. SnP is only up 2 however. Rus2k barely up as well so not a broad rally but still a nice day.

With all the blood and joy of last week I will sure take this day.

[Dark Horse]

Still very volatile if you take the last hour as measuring stick. This time it's up, next time's it's down. Too much fear. Either fear of losing, or fear of missing out. No real direction other than to jump on the bandwagon for the final movement and hoping that it holds.

[Dark Horse]

Only gained about 30 pts over the last hour. Nice. A return to normalcy?

[durito]

A return to normalcy?

Not for years.

[jjgold]

Stocks will re treat tomorrow

I already in the hole 10 sp points and held the position

SP futures actually (mini contract)

[Dark Horse]

Not for years.

I mean an end to the panic. The years don't interest me. Nor do the days. I'm into weeks. (And mine start on Friday).

[jjgold]

I am short on sp futures

grinded back about 80 cents so far after hrs

this is fukkin pressure

[pwdump]

I'll dive back in the pool with you boys at 12,000

[jjgold]

I am actually up a point now

unreal

[SBR_John]

I've never traded the mini's I always thought they were for chumps.

But I do favor the downside after we returned to higher prices. Any news showing things slowing down is going to spook this market. We need to see the market price in a slow down. Maybe even test the lows one more time.

[jjgold]

Johnny you cant hack it, I have to stay up all night tonight to watch my positions.

[SBR_John]

Market looking good in here. The big gains made from Thurs afternoon are being digested well. The Fed is sending bullish signals.

We are up +29. This could be a fade call but I think we will start a small up leg here. Im a small buyer in here but willing to take a loss on any triple digit down day. For now I think we are going to see higher ground.

[Dark Horse]

Stability starting to return. Dow down 30 pts. Calm last hour. Bought back into the market. Testing the waters at a good price. Bigger buy on the agenda for later this month.

[SBR_John]

Yes the close today was a yawner.

I', not sure what to think as the market drifts along in here. I do think it is healthy that the wild swings have abated somewhat.

The broader market posted modest gains. The Dow was hurt by another drop in Exxon.

[Dark Horse]

What we see today is how a group of private bankers -the Federal Reserve Bank - hold the US economy (and world economy) in the palm of their hands. This is what Lincoln warned against. This is what JFK wanted to break free from.



http://www.geocities.com/northstarzone/FED.html

[Dark Horse]

Anyone trading international markets?

Steering clear from China, but India has caught my eye.

[Dark Horse]

Asian markets are up. Bombay 60 pts down an hour or so ago, now up 160 pts.

[Dark Horse]

Hour later. India up almost 300 pts.

[Dark Horse]

European markets up as well.

[Dark Horse]

All European markets are up, all Asian too; except Japan stayed even.

DIA (Dow 30) is trading about 80 pts up from yesterday after the market closed.

Looks like today has only one way to go and that is up.

But nothing is certain...

[Dark Horse]

To get back to the Fed.

Hopes are high for a rate cut. I can't stand that sh*t. After falling for days, the market suddenly jumped 300 pts in the final hour on Thursday, and the next thing you know the Fed cuts the rate on Friday morning. If the next rate cut is again preceded by a major market movement, you may as well call it insider trading. Or is everybody on the floor suddenly psychic?

[isetcap]

To get back to the Fed.

Hopes are high for a rate cut. I can't stand that sh*t. After falling for days, the market suddenly jumped 300 pts in the final hour on Thursday, and the next thing you know the Fed cuts the rate on Friday morning. If the next rate cut is again preceded by a major market movement, you may as well call it insider trading. Or is everybody on the floor suddenly psychic?

As with everything else, these moves are made based on speculation. The Street hates surprises and therefore they rarely happen. Information is almost always anticipated and by the time it trickles down to the general public it is virtually liquidated fundamental data. All the insiders carefully watch the motions and emotions of the Fed. Rate increases/decreases are almost always completely factored into the market by the time they actually take place. As a financial institution, all you need is an advisor who receives the same data as Bernanke and who thinks like Bernanke. You then move on the data provided by the advisor and if he/she is wrong you scramble and find yourself a new "Bernanke".

[SBR_John]

Dow has been in a tight range to the upside now past the midway point.

Most traders were looking for a pull back and it just has not come. I said Monday pm it looked like at least a small leg up was in the works and of course the market dropped 50 points after I set up some small bull positions. But as it is now stocks continue to easily soak up the last of the fear sellers and drift higher.

Plenty of ammo for the bears to hold on. Most the bears seem to think bad news will continue to filter out. But for now, there are buyers and many more buyers could get dragged in after a few big plus moves if we get them.

[jjgold]

We need to stick this out, the market has to sell off. On a nice upswing this afternoon.

Please one time

[SBR_John]

The afternoon selloffs are officially gone. Actually the fact that there was no sell off last Friday broke the week+ string of sell offs.

The base building Ive been noting drew buyers in late and up to the highs we went +149 on the Dow. IMO, this is a trading range being established and not a break out.

[Dark Horse]

Global market set the tone overnight. Dow opened about 100 pts higher today than it closed yesterday. It was right back at that point when the final hour started.

Not the big wave yet, but it's on its way.

[Dark Horse]

Asian markets opening up.

The one that would worry me is China. These people are new to this and they're out of control.

[jjgold]

I am getting fukkin hammered on SP's, I already lost all my football gambling money.

[Dark Horse]

If you misjudged a wave jump off quick. If you read it correctly, ride it all the way.

[Dark Horse]

Tokyo taking off. Approaching +400 pts.


DIA (Dow 30) trading 70 pts higher than Dow's closing price.


About 6:30 AM in Bombay right now. Let's see if India comes out swinging as well.