If you're short, I'm the sucker going long....: hardest 10 pts in the market

Thursday, May 28, 2009

going to need to see this just naturally roll over to get through it.

Tony said...: Am I correct to be a little creeped out that the bond auctions seem to be moving the market-- down one day and up the next.

It seems that traders are really keying on that item, or maybe it's just coincidence.

R1 is 91.11; May 28, 2009 at 1:18 PM
Eric said...: this all is creeping me out. but I'm not paying attention to the talking heads...

is that why they say the market is moving up?; May 28, 2009 at 2:42 PM
Tony said...: That's the word on CBNC: Santelli said the 7-yr auction did better than expected at 13:00 hrs.

Decent volume. FCX, gold miners enfuego.

I like your bearish sectors... looking to add some short exposure. We are right at R1 91.11 and prolly will drop back to Pivot 90.32.; May 28, 2009 at 3:05 PM
Eric said...: You also realize how similar this is to the early 2008 trade.; May 28, 2009 at 3:43 PM
Tony said...: Good observation. We hit a short term high in May and it rolled over through July... then something happened in October...

are you just sayin, or are you implying?; May 28, 2009 at 3:48 PM
Eric said...: I wasn't drawing a parallel to the date. Just that it's all oil, and decoupling, late cycle....

and sure there is money running with the lemmings, but it will probably end the same.

This morning there was something about how oil supply hadn't been this high since 92.

which makes this oil trade stupid.

but money talks.

and the dollar is stronger than it was last friday.; May 28, 2009 at 3:53 PM