"José Manuel Barroso, the European commission president, is
going to push to streamline the eurozone’s €440bn rescue fund by
proposing that the unanimous voting requirements that govern its
use be eliminated# by FT
I came back to my desk and read this, then went and looked at
the charts expecting to see that the market had shot up. So, what
"push up" are you talking about?
I think that most of the weak shorts have been squeezed out by
now with all of these, almost minute by minute, Euro-news
reports that have pretty much, by now, saturated the short's fear
receptors. It is going to have to be a pretty big story to
move the market now. And, it might be a case of sell the news
once the market has digested what ever finally comes out. As
they say, it isn't the news but how the market reacts to
it.
The market is showing some relative strength on the short term
time frames, especially when you consider that is sitting at the
abyss of the 20dma on the monthly chart. It has only 2 full
trading days left to rally hard over the 1200 mark or risk closing
the month on a monthly bear sell signal.
So, I like sitting in cash right now because, the volatility is
so high right now, and between now and the end of the month it is
going to be coin toss to see which way we end the month.
Why guess? Let the monthly chart plot your course for
you.
Posted by parkridge77 on 28th of Sep 2011 at 11:59 am
11/3/11 is the next G-20 Cannes summit
meeting- which is THE forum for monitoring int. economic
cooperation blah blah--- so reading some articles with
bias that Euro situation doesn't see clear resolution until
then-- just fyi
maybe a reason for this push up
Posted by alseq on 28th of Sep 2011 at 11:47 am
"José Manuel Barroso, the European commission president, is going to push to streamline the eurozone’s €440bn rescue fund by proposing that the unanimous voting requirements that govern its use be eliminated# by FT
What push up?
Posted by auni on 28th of Sep 2011 at 12:33 pm
I came back to my desk and read this, then went and looked at the charts expecting to see that the market had shot up. So, what "push up" are you talking about?
I think that most of the weak shorts have been squeezed out by now with all of these, almost minute by minute, Euro-news reports that have pretty much, by now, saturated the short's fear receptors. It is going to have to be a pretty big story to move the market now. And, it might be a case of sell the news once the market has digested what ever finally comes out. As they say, it isn't the news but how the market reacts to it.
The market is showing some relative strength on the short term time frames, especially when you consider that is sitting at the abyss of the 20dma on the monthly chart. It has only 2 full trading days left to rally hard over the 1200 mark or risk closing the month on a monthly bear sell signal.
So, I like sitting in cash right now because, the volatility is so high right now, and between now and the end of the month it is going to be coin toss to see which way we end the month. Why guess? Let the monthly chart plot your course for you.
LOL in order for that to happen
Posted by mrab on 28th of Sep 2011 at 11:55 am
a unanimous vote will be need to be passed in order for that measure be approved, and I highly doubt it will be agreed to by all 17 euro nations.
Most likely, the market is
Posted by steve on 28th of Sep 2011 at 11:51 am
Most likely, the market is currently obsessed with European News...any type of news seems to cause a quick reaction.
11/3/11 is the next G-20
Posted by parkridge77 on 28th of Sep 2011 at 11:59 am
11/3/11 is the next G-20 Cannes summit meeting- which is THE forum for monitoring int. economic cooperation blah blah--- so reading some articles with bias that Euro situation doesn't see clear resolution until then-- just fyi
Any one know what Bernanke is talking about after the close?
Posted by garyl on 28th of Sep 2011 at 12:03 pm