Gobble Gobble. Did you bring your chips (ETFs) to the table?
If they hold S&P 840 maybe we can get to S&P 1000 by Friday. Or 2000 by next Friday.
Ok maybe not - but at least 870.
If we break 840 we can go back down to 600. Or 400. Why not. But I'm "betting" (truer words never spoken) up. Obama has saved us. The new magic economic team will make unemployment falter back down to 3% within 6 months; houses fly off inventory and malls team with people. China will demand even more Treasury notes from us. You know it.
I need to find a YouTube Clip for "Start your Engines" to bring out every day at 3 PM.
In a sad epiphany I've come to the conclusion that someone with 1 day of market experience has about the same skill set as I do in this type of market. And someone who has made 3 trips to Las Vegas has the far better skill set. It is hard to remember but in the old days, even a 4% move would be considered wickedly volatile. Now that's our quietest day of the week.
Anyhow... student body left... no right... no left.... just follow the lemmings ahead of you and do the same. Onward!
p.s. please note Ultrashort Real Estate (SRS) now has fallen 130 points in exactly 1 session from when we pointed it out at $284 at 3 PM Friday. Someone said....
When this reverses it's going to take 100 points off in 4 hours.
Don't overstay your welcome in these Ultrashorts... one more day like today and we can begin rebuying.
3 comments:
It's like clockwork, unbelievable. Good call on URE!
Ratchet up SRS as we approach S&P 870??
What's the psyche behind this 3-4PM influx of trading anyway? Is it a 'hey, this is the last thing I'll do today and I'm forced to stick with it because nothing can happen...until the next morning.'
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