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View Full Version : I always post when the market is DOWN big overnight...now it's UP big

PaceAdvantage
08-09-2011, 03:38 AM
Total reversal over the last five hours...S&P currently up 18 points and at one time it was up almost 37 points (DOW was up 306 points overnight at its peak)...

S&P futures have already traded 650k contracts, which is huge for this hour of the morning...no real reason for this other than Asian markets coming off their lows...the volatility is just amazing at the moment...

Nobody seems to have a clue one way or the other....

It's a great time to be a trader...and no Patrick, I'm not being sarcastic...it's actually a really great time to be a trader...
PaceAdvantage
08-09-2011, 03:46 AM
Before I take a nap, I'd just like to say one thing...that was the SICKEST overnight move just now I have ever seen....

At around 10:15pm, the S&P was DOWN about 34 points at 1077...it then proceeded to rally 71 points off that low to a high of 1148 which it hit at about 3:15 am.

Five hours, 71 points...which equates to about 600+ points on the DOW...all overnight...

Wow. Talk about a little short squeeze... :lol:
Tom
08-09-2011, 07:52 AM
We must not allow Obama to speak today! :D
witchdoctor
08-09-2011, 07:54 AM
We must not allow Obama to speak today! :D

AMEN
Robert Goren
08-09-2011, 08:01 AM
We must not allow Obama to speak today! :DThey should cancel the Fed meeting too.:D
Mike at A+
08-09-2011, 08:40 AM
The bargain hunters are snapping up underpriced equities and will dump them just as fast to make a quick profit. Long term, the market will continue to slump until something significant happens. Unfortunately, that will be after the 2012 elections when Republicans get huge majorities in both houses and send Obama back to Chicago.
Bettowin
08-09-2011, 09:18 AM
The bargain hunters are snapping up underpriced equities and will dump them just as fast to make a quick profit. Long term, the market will continue to slump until something significant happens. Unfortunately, that will be after the 2012 elections when Republicans get huge majorities in both houses and send Obama back to Chicago.


I agree with this. Clean up your portfolios on the bounce up so the next leg down doesn't hurt so bad.