Good morning. Happy Thursday.
The Asian/Pacific markets closed mostly down. China and New Zealand lost more than 1%. Europe is currently mixed – there are no big winners or losers. Futures here in the States point towards a positive open for the cash market.
We’ve had six consecutive down days. There are no good longs to be had, and shorts are too far gone to chase. We need to manage what we have and let the market play out right now. I’d recommend maintaining short exposure just in case the market melts down, but be ready to for a bounce which will play out sooner rather than later. Markets don’t move uninterruptedly in one direction.
Sentiment right now is not good, not healthy. When good news comes out, gaps get sold into; rising prices are fleeting. When bad news comes out, there are no buyers whatsoever. This is a far cry from how a strong market acts (bad news gets ignored; good news gets embraced).
From a technical standpoint the indexes are in bad shape. From a psychological standpoint, the market is very fragile. It would take much to reverse the feelings on Wall St. right now.
Maintain short exposure and be ready for a bounce. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
yesterday’s sector performance
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Jun 9)”
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trade the market–not ur bias
Oh yeah, it would take Timmy and Benny Boy cranking up the printing press and buying SP futures in the overnight to run us up 20.00 on nothing…. like they have done for years… Oh and they wouldn’t do that, with Goldman, next week going into quarterly “make up the settlement price” options and futures expiration on Friday would they now?
We need more posts like this one from Mark. HW
Neal
only mutual funds buy tops/sell bottoms
daytraders trade reality
we trade what IS
atm long until the turn
isnt uncle ben suppost to be saying something
the dax seems to know
does deutcher bank control the world
market about to turn –out at piviot
UUP, UDN, EUR/USD, TLT, and SPY: Looks like they’re betting on a stronger dollar and equity growth. I’m confused.
getting ready to load up short
short the dax and ndx now
Neal
my broker takes es or spx one quarter of a point ie 0.25 of a spx point on entry and exit
I COLLECT WHAT EVER IS IN BETWEEN
Neal
u said NO QE3 and fed to raise interest rates as the final kiss goodby
and that the fed will ann this on thurs 9/6
no how is that bullish
now not no
Anthony Weiner is quiting politics and is becoming a
day trader. Watch the news at 6pm for further details.
I got an email from Chuck Plosser at noon (EST). Ben is desperate to keep the bullish “triangle” pattern alive but he’s now requesting some alternative bearish chart patterns and lower support areas. I’ve already shown Chuick the bearish “H&S” pattern with 1250+/ as a neckline. I told Chuck to tell Ben to get the Boyz to goose this rally to at least 1315-1335 so we can keep the “D” wave idea alive for the “triangle”. I sense that Ben’s getting more anxious about an assualt and break below 1250. Chuck told me I’m be on call over the weekend. The next few weeks should be interesting.
Sorry about the misspelling and “I’m be on call”. This FED job is more demanding than I thought it would be! Chuck warned me that BEN is very demanding because the situation is so dire.
Tell uncle ben to raise interest rates and squezee the bond yeild
his problem is the bond market not the equity market
do a EW chart for the bonds