Monday, January 18, 2010

well, markets closed today but futures are up

you can't stop the Monday up moves even after down days and on days the markets closed. should we really be surprised...we will see how it plays out tomorrow, if the market regains even 3/4 of the losses on friday shorts will once again be ready to run for cover and 1150 S&P could be ready to burst.

that said i'll stick with my gut from friday and say we touch at least 1120 before we get back to 1150... however, that is clearly against the grain bet as every one day pullback has gotten reversed the next day for months so odds favor that result i guess as the market clearly only looks forward about 3-4 months these days. earnings will beat consistently this Q but look out further and you say how do they keep it up when the govt/treasury/fed economy goosing activities slow down...oh yeah the bulls say private sector will come back in... i doubt that unless the private sector will buy 1.5 trillion of shitty 5% mortgages or 300 billion of garbage US treasuries yielding nothing or pay for people to be unemployed until 2020 (oh wait we probably will do that through higher taxes which would be bearish right? or can bulls say higher taxes means _______ (something bullish will be found but I can't fill in the blank))...

the way this market moves maybe bulls will break 1150 tomorrow just because momo is all that matters anymore... on our way to 12 hundy baby!

link thru to this article on how the market always has a case of the mondays but in a good way that almost seems fishy (13 out of 15 Mondays up in a row and mostly up big with the rest of the week not being so hot)...

1 comment:

  1. futures keep climbing higher as nasdaq up over 1/2 a percent and S&P getting close

    looks like groundhog's day tomorrow as the bears just get stuffed again

    weird once again all the gains happening overnight or in the futures markets as the market magicians pull the same trick yet again

    ask questions folks... who is this buying over and over again

    i doubt its all private money - i'll just say that


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