Monday, October 26, 2009

Holy Weird Action Batman

Bam! Splat! Kaboom!

What a strange day - we get our traditional "run up for no reason in particular" in the first 45 minutes ... +1%

Now it's all been reversed in a matter of 30 minutes, and we're actually -0.3% as I speak.

Holy random action that makes no sense to me, Batman!

Geez, we were just at 1090 at the last water break, and I was considering what happens as we approach resistance at S&P 1100... now within minutes I have to consider what happens at support in low 1070s.

HAL9000 is going haywire today.  The second dramatic selloff in 3 sessions; last Thursday's was in the closing 45 minutes of course; a 1.5% intraday drop... close to the same % today, but in the middle of the session.  Hmmm...

Any news?? Or did the dollar just reverse (go from being shredded to a rally) and hence every asset on Earth must trade inverse.  Let see if bears can take the initiative and get the S&P below 1070...

EDIT 11:57 AM: Wow, it's a waterfall... down 0.9% after being up 1.0% - thats a full 2% "in your face" slap to the bulls in some 30 minutes.  Another change in character... bulls could buy any dip without fear for months on end.  Now they've been fleeced twice in 3 sessions... without time to really react, no less. 

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