The market likes Hillary or something.....
Brilliant Short covering rally we have......
Very iregular trading.......
Being the well disciplined trader I am (caugh caugh bullshit). I actually refuse to panic. I know we are going lower.
But this is a great trend reversal, the downward motion needs to upward move to take us lower...
Question is? is a 26 pt move on the S&P enough of a rally? If we get a 70% retracement of this rally, I'll exit.
The continued irregularity makes me want to stand strong... This was a 200 pt reversal.
I'm sure it will be accounted for as comments from the moon to the sun, and the left hand shadow Of Venus...... and the undefeated Patriots or something.
Wednesday, January 9, 2008
Impressive
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such as crazy day, we got 200 points swing in Dow, Dow rebound from -100 have a further rally?
I know, Alcoa earnings will set up the tone for tomorrow trading. Remember - uncle Ben will also have a speech tomorrow - whether he will hint a aggressive rate cut will be critical as well.
Alcoa earnings 4Q earnings is 0.36, beating analyst estimate 0.34
I say ben will say nothing...
My immediate crystal ball for tomorrow.... we get a 75 pt run in the dow 10 pts in the S&P. Then we decline
or we open flat and just start declining.
We get same store sales tomorrow.
I hope I can stay awake long enough for the Alcoa conference call. I'll also listen to Ruby Tuesday.... See how the service sector big box restaurant is doing.
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