After a quick swoosh down, the S&P 500 is back to that 1090 level. While Ben Bernanke swiped me yesterday with his testimony of "easy money forever... and ever" that changed the chart within minutes after one of my posts, I will repeat yesterday's refrain that the conditions seem more ripe for some downside than upside. The gap at S&P 1078 still remains in place.
Will be back at the turret full time tomorrow and be out of pocket rest of day; otherwise I'd be pressing index shorts as long as 1100 is not regained.
As an aside TriQuint Semi (TQNT) had a good report, and is one of the only green names I see in my lists. More on that name tonight or early tomorrow. Chart looks excellent now as well.
Long TriQuint Semi in fund; no personal position
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows